In a recent article for Treasury and Risk, Alexander Malaket – Deputy Head of the Executive Committee, International Chamber of Commerce (ICC) Banking Commission – discusses the search for the optimal balance between implementing essential regulation and encouraging global growth.
Trade finance is a key factor in emerging-market development and the expansion of trade. Yet, the implementation of stringent regulation has created a global trade finance gap, leading to significant repercussions on emerging markets, which are dependent on trade finance as an engine for growth.
Fortunately, the latest ICC Trade Register shows that traditional trade finance products are low risk, and the results continue to provide a basis for constructive, substantive dialogue and advocacy with the Basel Committee and other regulatory authorities.
In addition, dialogue and advocacy work can extend to involving representatives from the client community of trade finance practitioners—from treasury and finance executives in large multinationals, to entrepreneurs leading economically critical small businesses.
To read the full article, please click here (please note, this link requires registration)