SEARC - TRADE FINANCE SYMPOSIUM 2017, SINGAPORE - 3 NOVEMBER 2017

The Trade Finance Symposium 2017, jointly organized by Bank of China Singapore Branch and ITFA was held at the offices of Bank of China, Singapore for the second year in a row. The event was held on 3 November 2017. The Symposium was a well-attended event, with over 100 participants from over 50 banks, insurance and trading firms from London, Germany and Hong Kong.

The Symposium started with an opening address by Mr. Qiu Zhikun, General Manager of Bank of China Singapore Branch, Country Head, to warmly welcome ITFA members and BOC customers.

Participants were actively engaged in topics presented by Mr. Lawrence Low, CEO of Allen & Gledhill Regulatory & Compliance Pte Ltd and Ms. Yvonne Chiu, Partner of KPMG Singapore. They discussed the current issues in Financial Crime, specifically in Trade Finance and the current most discussed topic in the Finance industry: IFRS 9, and also touched on the impact on trade finance respectively.

Mr. Paul Coles, Global Transactional Distribution, Portfolio Management and Distribution, Global Trade and Receivables Finance at HSBC Bank plc and ITFA Board Member (Head of Market Practice) delivered a presentation on ITFA’s activities and educational events/seminars. He also spoke on Market Practice and discussed on the liaison work with BAFT, ICC and other industry bodies.

Ms. Silac Calac, Senior Surety Underwriter at Swiss Re International S.E. and ITFA Board Member (Head of Treasury and Insurance) gave a very informative presentation on the current regulatory environment and insurance as a risk mitigation tool.

The half day symposium ended with a closing speech from Ms. Sophie Zhong, General Manager, Head of Bank of China Forfaiting Unit (Singapore) and Chairperson of ITFA SEARC, to call on banks and ITFA members’ close collaboration for a New Era of Trade Finance.

Most importantly, it was very rewarding to hear that the Symposium was very well received by the participants, who enjoyed the presentations and meet-ups with like-minded Trade Finance players.

Lastly, may we remind you all that photos taken at the event can be viewed here, however these are available only to ITFA members.