Board of the ITFA met in Zurich on 13th April 2010

The Board of the ITFA met in Zurich on 13th April 2010 and members may be interested in the following highlights:

• The programme for the Berlin conference has been approved and will be published shortly. As already announced the theme for this year’s conference will be how the forfaiting market can evolve to meet new challenges and offer new products. The Gala Dinner will be at Axica, an exciting modern venue designed by Frank Gheary, the famous American architect.
• Very good progress is being made with the ICC on the drafting of a “UCP for the Forfaiting Market”. Further announcements will be made in Berlin.
• The Kazakhstan Working Party will continue to monitor developments in the BTA Bank restructuring and assist members as necessary.
• As already announced, an educational seminar will be held in Beirut on 26th May, which is open to all members. Kindly register directly with the Bank of Beirut using the registration form via the ITFA website
• Banco Safra and Citibank have joined as members
• ITFA has received membership of ICMA (International Capital Market Association). ITFA members can receive information directly from ICMA but will need to register first. Enquiries to Sean Edwards at sean_edwards@gb.smbcgroup.com.
• The ITFA is looking into the possibility of obtaining legal opinions in emerging market countries, dealing with typical forfaiting instruments and issues. This project is currently at the evaluation stage and developments will be announced in due course.