ICC Bangladesh workshop on Compliance and Trade Finance Risk Management for Bankers of Bangladesh held in Dhaka

International Chamber of Commerce (ICC) – Bangladesh, the world business organization, organized a day-long workshop on Global Banking Commission Outlook, DSI, Compliance and Trade Finance Risk Management for the Bankers of Bangladesh jointly with ICC HQs Paris in Dhaka on Thursday, 20 February.

The workshop was sponsored by ODDO BHF SE Bank, Frankfurt, Germany, according to a media release. 

The speakers of the workshop were Tomasch Kubiak, Policy Manager of ICC Global Banking Commission; Thomas Kuerten, International Banking Sales/Senior Regional Manager at ODDO BHF SE Bank; Sabio Jin, Senior Partner of Jincheng Tongda & Neal Law Firm, Beijing; Dr. Shah Md. Ahsan Habib, Professor of Bangladesh Institute of Bank Management (BIBM) and Dr. Mostafa Abid Khan, Component Manager, Support for Sustainable Graduation Project (SSGP), Economic Relations Division, Ministry of Finance. They made their presentation on different topics during the workshop.

ICC Bangladesh Secretary General Ataur Rahman, in his opening remarks, said that Bangladesh's economy has increasingly been getting involved in international trade transactions, and as such, improved and efficient cross-border trade will have notable implications for the country’s LDC graduation process.

The regulatory environment entails greater involvement of the trade finance banks having greater risks. In the context of growing business complexities, higher compliance requirements, widespread technological adoption, high market expectations, and growing financial crimes, trade finance is becoming increasingly challenging to the banks of the country, he said. 

Compliance and risk management must remain at the heart of our trade finance operations. As global regulatory frameworks become more stringent, our banks and financial institutions must strengthen their due diligence processes, adopt robust risk management frameworks, and enhance transparency to mitigate financial crimes and ensure long-term sustainability, he added.

The objective of the workshop was to discuss on global financial landscape, macro economy and geopolitics, compliance, global digitalisation trends & initiatives linked to MLETR digitalizing of international trade.

A total of 96 participants from 26 banks, including Bangladesh Bank (Central Bank), BIBM, KAFCO, and some clients of Mutual Trust Bank, attended the workshop, the release adds.