ICC Banking Chair, Deutsche Bank’s Daniel Schmand, in American Banker on growth-boosting power of trade finance

Daniel Schmand, ICC Banking Commission ChairmanBanks have gotten a bad rap recently, but in American Banker, Daniel Schmand writes honestly about why trade finance is the good news story that banking needs.

Trade finance helps to foster growth in both developed and developing economies by “making funding available to entities that would otherwise struggle to find working capital for growth. And trade finance involves the production and movement of tangible goods, which creates jobs and wealth in both purchaser and supplier countries” notes Schmand.

And yet, the positive power of trade financing remains under-acknowledged – leading to disproportionate or poorly suited regulation.

To read the full article, please click here (please note that this article is behind a paywall).

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