Launched at the ABS’s 50th anniversary dinner on June 23, the industry initiative aims to mitigate the risk of duplicate financing for the same underlying trade.
The Association of Banks in Singapore (ABS) has launched a registry that will maintain a centralised record of trade finance transactions in Singapore.
The Trade Finance Registry (TFR) is supported by key trade financing banks in Singapore, such as DBS Bank, OCBC (SGX:O39
) Bank, Citibank N.A., BNP Paribas and Standard Chartered Bank (Singapore), with United Overseas Bank (SGX:U11) (UOB) chairing the project.
