BOV hosts Trade Fi­nance work­shop

The Malta Business Weekly - - FRONT PAGE -

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.

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