A BRAND NEW YEAR, FRESH DAWN FOR AFRICA AND A BOLD PIONEERING STEP FOR ALBATROSS FUND

  Every sunset has a promise of a new dawn and each sunrise brings a new beginning, so it is for Albatross Fund. Albatross Fund has embarked on an exciting journey with Anametrics Holdings Limited; to be one of the leading financial powerhouses across the African continent. Mr. C.K. Low, group managing director and co-founder of…

Credit offtake by banks slowly back to double digits after nearly 15 months

 Demand for bank loans is slowly picking up, latest data from the Reserve Bank of India indicated. Annual year-on-year (Y-o-Y) growth rate in credit offtake is slowly inching back to double digit levels after nearly 15 months Total bank credit rose 9.9% to Rs 81 lakh crore in the fortnight ending December 22’17, latest RBI…

Hopes raised as first African bank joins trade finance fintech platform

BY SANNE WASS South Africa’s Standard Bank has become the first African bank to join CCRManager’s digital trade finance platform, a global project to ease trade and supply chain finance distribution. CCRManager (CCRM), a fintech firm backed by the Monetary Authority of Singapore, launched its platform earlier in the year, as previously reported by GTR. Thirteen banks…

Hong Kong, Singapore to link up trade finance blockchain platforms

Elzio Barreto HONG KONG (Reuters) – Hong Kong and Singapore’s de facto central banks unveiled plans on Wednesday to link trade finance platforms they are developing with blockchain technology, to reduce potential fraud and errors in the multi-trillion-dollar funding of international trade. The Hong Kong Monetary Authority (HKMA) together with banks including HSBC Holdings PLC…

Conditions notified for availing export package

Mubarak Zeb Khan ISLAMABAD: The Ministry of Commerce on Thursday notified conditions for availing Prime Minister’s Export Enhancement Package for the year 2017-18. In this regard, the Commerce Division issued a notification SRO1062 for non-textile products. A similar notification for textile products will be issued by the Textile Division shortly. The notification is part of…

Unconditional bank guarantees: ‘like cash in the bank’. But not always …

Cooper Grace Ward It is common in construction and commercial leasing transactions for a party to provide an unconditional bank guarantee to secure the performance of their contractual obligations. An unconditional bank guarantee is widely regarded as being ‘like cash’. Courts are reluctant to restrain the calling for and making of payment under an unconditional…

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