The International Chamber of Commerce Qatar (ICC Qatar) held its first Banking Commission meeting of the year at Qatar Chamber.
The Vice Chairman of the ICC Qatar Banking Commission, Ghassan Azar, presided over the meeting in the presence of representatives from the majority of banks in Qatar.
Director of International Relations and Chamber Affairs of ICC Qatar, Sheikha Tamader al Thani, provided updates regarding ongoing meetings with the concerned parties related to the use of the internationally accepted ICC Uniform Rules on Demand Guarantees 758 when issuing guarantees, commenting: “The Banking Commission meeting is an important opportunity to consider the latest issues relevant to the banking industry. Some of the topics discussed included ICC draft opinions, issuance of guarantee clauses by banks and Incoterms 2020 amongst others”.
Mr. Azar highlighted the importance of the upcoming ICC Banking Commission Annual Meeting 2019 that will be held from 8-11 April in Beijing, noting that it is the only event of its kind gathering banking executives and government officials from more than 65 countries to rethink the future of trade finance, encourage governments, regulatory bodies and G20 leaders to remove obstacles to trade finance and stimulate economic growth and job creation. Other topics include the increasing prominence of digitalization within the trade finance sector, the ongoing changes in regulatory and compliance requirements and the growing interest—from both banks and customers—in supply chain finance methods.
He also urged members to attend the ICC Qatar Annual Trade Finance Training on 27 March 2019, which will provide professionals with best practices. The training will also be beneficial to business executives active in trade finance. This comprehensive banking workshop will enable attendees to obtain 6.5 PDUs.
CEO of Qatar Financial Centre Regulatory Authority (QFCRA), Michel Ryan, attended the meeting as a guest of ICC Qatar and gave insight into the work of QFCRA, stating that he is “very pleased to have had the opportunity to attend the meeting of the ICC Qatar Banking Commission and to support the important work that the Commission undertakes”.