'Understanding trade risks to meet global
TFAB holds seminar on 'international trade'
A full day seminar organized by the Trade Finance Association of
Bankers (TFAB) on "Understanding trade risks to meet global challenges"
was held at the Galadari Hotel recently. The seminar was open to a wide
spectrum of participants such as importers, exporters, bankers, lawyers,
shipping and insurance industry professionals etc. It was a full
gathering with about 180 participants.
Keynote speaker Citibank Colombo
Country Head and Chief Executive Officer Glen Rase
making his presentation and a section of the participants.
The keynote speaker, Citibank Colombo, Country Head and Chief
Executive Officer, Glen Rase, in his address said that the world should
be considered in three broad categories of countries - the emerging
industrial powers such as China and India, commodity suppliers such as
Australia, many countries in Africa and Latin America and the Developed
democratic welfare states, like the EU, US and Japan.
The emerging industrial powers and commodity suppliers have done well
during the financial crisis. By contrast the welfare states have done
very poorly because they have built up enormous debts in an effort to
support public entitlements. Should the Eurozone fail to deal
effectively with their problems, Europe, and most of the rest of the
world, could easily experience a sharp contraction.
The presenters, specialists in their fields and with wide experience
were, Sampath Bank Consultant Parama Dharmawardene, McLarens Shipping
Ltd General Manager Anoma Ranasinghe, AVIVA NDB Insurance Assistant
General Manager Tanuj Edward and Peoples Bank Senior Deputy General
Manager Sabry Ibrahim and Hatton National Bank Assistant General
Manager-Trade Services Nilam U Jumat. The moderator was Senior Banking
Consultant, Former Deputy General Manager - Bank of Ceylon
The speakers covered varied areas in international trade of much
value such as case studies in international trade, mitigation of FOREX
and payment risks, shipping and insurance.
The participants were awarded certificates of attendance.
In a new development from this year, members of the Institute of
Bankers of Sri Lanka (IBSL) are eligible to earn Continuous Professional
Development (CPD) points by participating in Seminars organized by the
Trade Finance Association of Bankers.
From the feedback received the participants had benefited very much
from the presentations made especially as the topics co-related to the
work they are involved in. Several requests were made to structure this
seminar for a two day session.
The panel discussions which followed the presentation were very
interactive and included Commercial Bank of Ceylon Deputy General
Manager International, Jegan Durairatnam who added much value to the
discussion. The participants were able to clarify many technical issues
relating to International Trade practices.
The President of the Association Nilam Jumat said that the Trade
Finance Association of Bankers, which was inaugurated in 1997, has from
inception been actively engaged in imparting knowledge and the necessary
skills to its members by conducting seminars, lectures, discussions,
workshops etc. on a wide range of topics relating to international
trade. Educating the Sri Lankan importers and exporters has also been an
objective of the Association to assist them to keep abreast of the
changes that are taking place in the industry.
The seminar concluded with the delivery of the vote of thanks by the
TFAB Secretary General Manjula Gunawardena.