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The bank signs a memorandum of understanding with General Electric and the Trade Bank of Iraq, a sign counterparties are ready to help companies finance Iraqi projects.
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.
*CFETS announces list of participants allowed in interbank RMB trading
*China issues rules to clean up P2P lending
*MAS proposes National Payment Council
*RBI announces rules on group exposure framework