CHAIRMAN'S MESSAGE - Paolo Provera, Chairman ITFA / General Manager ABC International Bank Plc.- Milan Branch

Dear Members and Friends,

May I firstly take the opportunity to wish you and your families a very Happy and prosperous New Year! Once again I would like to thank all those who participated to the ITFA Annual Christmas Party  that  was certainly a successful event attended by more than 150 guests.  This being the first issue of the Newsletter this year, I would like to share some of my thoughts for 2015.

Following a number of collaboration agreements which ITFA signed with prominent associations, the ITFA members can expect much more this year.  More conferences and events to attend to are currently under our consideration and we will of course keep you posted once details are confirmed.

As recently announced, ITFA will be speaking at the GTR Mena Trade Finance Week which will be held from 16^th  to 18^th February, in Dubai and, at the end of the second day of the conference, ITFA will be hosting a Networking Cocktail Party  open to  all ITFA members and with the important participation  of  distinguished guests from the GCC region. I look forward to seeing many of you there.

2014 was a successful year for the ITFA with important changes both in structure and mission and we are sure that we will be able to show the positive outcome of this new strategy. After the Barcelona Conference six  new members joined the ITFA and  another three are in their final stage of application.  It’s extremely encouraging to see our family  growing and this will certainly contribute to reinforce our international presence through well organized Regional Committees.

Each one of us in the Board is strongly committed and well motivated to improve ITFA’s importance on the international scene as well as to represent our members’ interest on important stages.

Please keep sending your thoughts and suggestions on what you expect from ITFA during 2015, by sending an email to myself, any of the board members or to our general email, info@itfa.org.   

We look forward to hearing  from you and meeting most of you at our upcoming events.

Best wishes

Paolo Provera

 

New ITFA Members

It is with immense pleasure that ITFA announces the following new members.

Incorporated in 1968, the National Bank of Abu Dhabi (NBAD) offers a range of banking services which include retail, investment and Islamic banking services. With over 125 branches and nearly 585 ATMs across the country, NBAD is one of the largest networks in UAE, as well as having the largest international network, having 60 branches and being present in 18 different countries, all over the 5 continents. Since 1977 it has been represented in London.  Apart from forming a key element of the Banks International Division, the London office has also acted as a hub for the bank's regional activities in Europe.  In terms of credit ratings NBAD's global ratings are Aa3 from Moody's, AA- from Standard & Poor's (S&P) and AA- from Fitch.  NBAD will be represented as Main Delegate on the ITFA by its London Office, through Jeff Fallon, who is the Executive Director GTB Head Europe & Americas.

Orient Trade Finance Consultants Ltd (OTFC) was registered in Hong Kong in January 2012, and started operated its Shanghai branch the following May.  OTFC provides a wide range of finance solutions targeted towards the traditional documentary credits and guarantees, as well as catering for other trade related products in the global market, such as pre-shipment finance, import finance, transfer L/C finance, forfaiting, receivables financing, inventory financing and leasing finance.  Its founder, William Xu, who is a trade finance banker with over 25 years of experience, will be the main delegate for all matters related to ITFA.

Wilben Trade Limited (WTL) is a principal trader involved in the buying and selling of a broad spectrum of commodities and industrial goods. In addition to its daily trading activities, the group is also actively involved in sourcing and arranging trade finance for its customers. Through its international network, the company provides tailor made solutions to buyers, suppliers and financial institutions by offering solution-orientated trade finance structures including the forfaiting of receivables. Since starting their operations in 2014 the group has arranged and participated in almost $400m of transactions. The company is headquartered in the United Arab Emirates and has subsidiaries in Singapore and Hong Kong. WTL will be represented by it's Chief Executive Officer, Marcus Wade.

Please join us in welcoming these new members on board.