The former pariah state hopes to boost its economy by giving foreign banks scope to lend to exporters. Bankers say the development would aid MNCs in the country, but need clarity from the government.
Long the tool of choice in trade finance, fewer companies are using a letter of credit for its traditional purpose – but don't expect LCs to disappear any time soon.
Fintech start-up Wave successfully completes groundbreaking letter of credit deal between companies in Ireland and the Seychelles using ledger technology blockchain.
Japan goes in strong with an early message to Britain and Europe as it seeks to protect the interests of corporates heavily invested in the United Kingdom ahead of Brexit talks.
