International Financial Services Centres Authority - IFSCA

This will assist them in converting their trade receivables into liquid funds and obtaining short-term funding.
Sheena

Updated: Jul 14, 2021 12:38:27 pm

14 July 2021 Current Affairs:Establish and operate the International Trade Financial Service Platform (ITFS) to provide a framework for trade financial services in the International Financial Service Center. 

Highlights:
♦ The IFSCA has issued a framework for establishing and operating an International Trade Finance Services Platform in order to provide Trade Finance Services at International Financial Services Centres.
♦ This framework will allow importers and exporters to use different types of trade financing facilities under competitive conditions to conduct international trade transactions through the dedicated electronic platform ITFS.
♦ This will assist them in converting their trade receivables into liquid funds and obtaining short-term funding.
♦ On the ITFS platform, participants will be able to access trade finance facilities for trade transactions such as Reverse Trade Financing, Export Invoice Trade Financing, Bill Discounting under Letter of Credit, Export Credit (Packing Credit), Insurance/Credit Guarantee, Supply Chain Finance for Exporters, Factoring, and any other eligible product.
 
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