BOV hosts Trade Finance workshop
During a workshop open to the general public, senior offers from BOV’s Trade Finance Centre discussed the latest developments in the world of Trade Finance.
Arguably the oldest form of economic activity to date, international trading offers various complexities and challenges, particularly as a consequence of political instability, as well as the spate of prudential regulation that has affected the financial services spectrum. Thus, it is critically important that players have a thorough knowledge of the markets and the manner in which they interact.
The presentations were entrusted to Carmel Borg and Mario Darmanin, executive head and senior manager respectively of BOV Trade Finance Centre. Together they share more than five decades of experience in the world of Trade Finance, which they have seen evolving dramatically over the more recent past. During their interventions, the speakers highlighted the variables effecting the markets, emphasising the importance of knowing the risks and taking the necessary measures to mitigate them. They gave an overview of Incoterms and the different methods of payments used in Trade Finance, highlighting the risks and loop holes associated with each, as well as the main features and benefits when used properly.
Speaking about the strengths of the bank’s Trade Finance Centre, Borg said: “At Bank of Valletta, we invest in the wealth of experience of our people, which then translates into valuable advice to our clients. We take pride in guiding our customers through the process, ensuring that they understand every step and are confident with the decisions being taken.” He concluded his intervention by expressing his satisfaction at the keen response of participants, not only in the number of attendees but also in their active engagement throughout the session.
“For us, being the financial partners of choice of our customers effectively mean supporting them every step of the way, even by hosting such events where they may broaden their knowledge so that they may be better informed and more knowledgeable when taking decisions.”
The workshop was accredited with three hours of structured CPE qualifying under the Core/Professional Development Board Accreditation rules.