IFSCA issued framework to set up of International Trade Finance Services

The International Financial Services Centres Authority (IFSCA) issued a framework for setting up and operating the International Trade Finance Services platform (ITFS).

Daily Current Affairs Quiz 2021

This will help the traders to convert trade receivables into liquid funds and obtain short-term funding.

This framework will also provide an opportunity to the participants to avail trade finance facilities for transactions on the ITFS platform.

These facilities include –  export invoice trade financing, reverse trade financing, bill discounting under letter of credit, supply chain finance for exporters, export credit (Packing Credit), insurance/ credit guarantee, factoring and any other eligible product.