ICC, ADB set up register

The International Chamber of Commerce (ICC) with the Asian Development Bank (ADB) has set up a trade finance register.

ICC Sri Lanka CEO Gamini Peiris told Daily News Business that he has informed ICC Sri Lanka that ICC and the ADB have created a database of trade finance transactions that show the low-risk nature of lending and guarantees to support imports and exports. He said that the ICC-ADB Trade Finance Default Register the first of its kind currently contains data from 5.22 million trade transactions conducted around the world by nine leading international banks over the past five years.

RK