Mar 28, 2012 (LBO) – International Finance Corporation, an arm of the World Bank said it is training Sri Lankan bankers in trade finance to help provide better services to customers to interact with the global markets. During the training program, participants were taught how to structure basic and complex trade finance transactions, improving risk mitigation techniques, and upgrading the operational and technical skills of trade finance back offices.
The training also featured sessions on documentary credit, international sales contracts, trade finance rules, and guarantee instruments.
“We are pleased to host this training in Sri Lanka, due to the increasing interest from banks here to engage with IFC on trade finance,” Adam Sack, IFC’s country manager for Sri Lanka and the Maldives said in a statement.
“Through such training programs, we will boost the ability of banks to support businesses
and drive economic growth.”
The statement quoted Ananda Silva, deputy governor of Sri Lanka’s central bank as saying that the training will help boost the island’s financial sector and update bankers which increase international trade.
The IFC’s ‘Global Trade Finance Program’ has also issued guarantee