MIAMI, Aug. 7, 2024
/PRNewswire/ -- FCI has announced the signing of a Memorandum of
Understanding (MOU) with the Financial & International Business
Association (FIBA). This MOU establishes a framework for
collaboration to enhance the accounts receivable financing industry
across North, Central, South
America, and the Caribbean.
"FIBA brings "Best Practices" to the
financial sector to optimize their operations." David Schwartz, President & CEO FIBA
The collaboration will focus on various areas of interest,
determined through joint consultations. These efforts will leverage
the strengths, competencies, and resources of both parties. Regular
meetings will be held to discuss the joint initiatives, programmes,
and projects, ensuring a well-coordinated approach to advancing the
accounts receivable financing industry in these regions.
The fields of cooperation, aimed at benefiting members as well
as the American markets, include:
- Education and Training: Development and implementation
of education and training programs for legal and regulatory
professionals.
- Advisory Support: Providing advisory support on legal
and regulatory matters related to factoring and supply chain
finance.
- Regulatory Assistance: Assisting in understanding and
implementing the regulatory framework governing factoring.
- Industry Standards: Promoting awareness and compliance
with industry standards and best practices.
- Research Collaboration: Engaging in joint research
initiatives in the field of factoring and supply chain
finance.
- Awareness Initiatives: Raising awareness and knowledge
about receivables financing and related technologies through joint
initiatives.
- Financial Solutions Promotion: Promoting solutions
between FIBA and FCI members to support their international
factoring and supply chain finance operations, including export
financing and risk coverage of import payments, and FCI's Two
Factor System model.
- Seminars and Events: to promote new financial solutions
using advanced financial engineering techniques focused on
international factoring operations.
- Partnership and Networking: Jointly promoting
partnership and networking activities and stimulating international
experience-sharing to strengthen knowledge and capacity.
Neal Harm, FCI Secretary General, stated: "The MoU recently
signed between FCI and FIBA signifies a partnership to strengthen
and grow open account trade finance across the Americas. By
combining our expertise and resources, we will provide SMEs greater
access to innovative financial solutions driving trade finance
deeper into the supply chain through our member financial
institutions."
David Schwartz, FIBA President
& CEO stated: FIBA is dedicated to bringing to the financial
sector the "Best Practices" for risk mitigation and techniques to
optimize the management of working capital and liquidity invested
in supply chain processes. The knowledge and resources that FCI
will provide under the MOU and partnership will greatly strengthen
our ability to carry out this mission.
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SOURCE FIBA