Despite the impressive figures, the banking industry has been slow in partnering with the United Nations Environment Programme Finance Initiative to set, implement and achieve its sustainability goals. The industry’s response to the climate change crisis is neither proactive nor pre-emptive. The vast majority of the estimated 25,000 licensed banks remain outside.

The United Arab Emirates (UAE), a major global trade and business hub, lands on this year’s list of countries still lacking in progress on anti-money laundering (AML) and combating the financing of terrorism (CFT) efforts. Further advancement on the investigation and prosecution of cases involving dirty money is key to removing the UAE from the so-called grey list. Despite this, the impact on the UAE’s economy is expected to be limited because of its relative strength and stability.

The prospect of a ban on Russia from SWIFT becomes ever likely as its attack on Ukraine escalates. However, the impact of such an outcome will not only be felt by the Russian economy and financial system but also banks, mostly European, that have significant exposures to it.

New digital financial infrastructure, new regional free trade agreements, and decisive leadership in the emerging sustainability and green agenda bode well for international RMB adoption.

As the trade finance industry collectively progresses to address challenges around digital fragmentation and isolation, adoption of standard solutions and well-established legal frameworks along with technology as an enabler will play critical roles in truly digitalising trade.

Industry practitioners discuss how process of bringing offshore global supply chains back to the country of origin accelerates demand for existing and new financing programmes that provide liquidity for sub-tier level of suppliers

Recent sale of negative yield bonds by Chinese government seen as part of a cyclical trend given historical low interest rates, with negligible impact on corporate issuers

Instant cross-border settlements are opening up the market for new players to innovate. With diverse ideas in the payments sector, those looking to collaborate — and not necessarily within the banking sphere — will come out on top.

The rising costs of compliance and due-diligence have motivated trade finance providers to find innovative solutions aimed at accelerating the process of trade transformation.