The African Development Bank (AfDB), in partnership with the Union de Banques Arabes et Françaises (UBAF), will co-sponsor a seminar on international trade finance in Abidjan, Côte d’Ivoire, from 3 – 5 October 2017.
Representatives of banking institutions from Côte d’Ivoire, Mali, Benin, Burkina Faso, Guinea, Togo, Senegal, Chad, Gabon and Niger will take part in this event, with the goal of improving their professional practice in international trade finance. Issues related to specific foreign trade financial products and the risks associated with managing these operations will be addressed.
This seminar will enable participants master trade finance issues, particularly documentary credit and standby letters of credit. It will also provide information on issues involved and characteristics of various trade finance products, including credit risk, conformity, communication and tools through practical case studies of traditional and structured transactions for commodities financing.
In addition, the seminar will help to improve local bank personnel’s ability to identify financial and operational risks and establish the necessary control procedures to limit these potential hazards.
By working with UBAF, the AfDB will continue to provide support to local banks through its Trade Finance Programme to better manage the associated operational risks. As part of the AfDB’s Trade Finance Programme, the UBAF, a respected institution providing support to international trade, currently shares in a Risk Participation Agreement (RPA) to the tune of US$ 50 million. Through their partnership, the AfDB and UBAF share the risk of supporting trade transactions originating in and destined for Africa.
About the Union de Banques Arabes et Françaises – UBAF
The Union de Banques Arabes et Françaises (UBAF S.A.) is a financial institution incorporated under French law created in 1970. Its shareholders come from 19 Arab countries, and it is associated with Crédit Agricole Corporate and Investment Bank.
Through its international network spanning Asia, the Arab world, Africa and Europe, UBAF is uniquely positioned to assist with commercial transactions in the Arab world and Africa. It also offers financial support to importers and exporters and provides for a secure flow of payments and goods for industrial and trading companies.
