Trade finance is one of Deutsche Bank’s founding businesses, and the new report outlines the fundamental practices and rules critical to the trade finance industry’s ongoing functioning and future development.
International trade is the cornerstone to modern economies, with the global value in excess of US$19 trillion, according to the World Trade Organization. Despite its importance, its complex and vast scope means it remains somewhat arcane and often misunderstood by outsiders.
Even for those within the industry, carrying out business across borders can be a tricky process, with varying regulatory frameworks, cultural and linguistic barriers, and numerous risks to take into consideration.
The guide is designed to act as a fundamental reference tool for anyone active in trade finance. It sheds light on a variety of industry topics, from the rules and practices associated with traditional trade and supply chain finance to the growing interest in blockchain and sustainable trade finance. It also surveys the potential implications of Covid-19 on the trade finance industry.
“This guide is an educational and informative tool for the whole industry, a back to basics guide on the critical components that form today’s trade finance landscape,” says Daniel Schmand, Global Head of Trade Finance and Lending at Deutsche Bank.