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.
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.
Singapore has created a panel to advise the Monetary Authority of Singapore on fintech developments, but companies will not be able to access the panel to share or receive advice outside of designated meetings.
The Hong Kong Monetary Authority has launched the Infrastructure Financing Facilitation Office in a bid to secure itself as the top financing hub in the world.
The Reserve Bank of India has further pushed its plan to get the whole country’s payment and settlement system onto an electronic platform. But the plan, called Vision 2018, does not oblige companies to comply.
*Safe lifts time restrictions on converting renminbi
*Malaysia and Australia combine for fintech
*Malaysia introduces new method for USD/MYR spot fixing
*FASB announces accounting rule update