Banking & finance

ICC Banking Commission wins Best Non-Bank Trade Services Provider for second consecutive year

  • 26 June 2014
ICC Finance

The International Chamber of Commerce Banking Commission has won Trade and Forfaiting Review’s (TFR) 2014 Excellence Award for Best Non-Bank Trade Services Provider for the second year in a row.

The award follows the commission’s recent launch in New York of the expanded ICC Trade Register Report 2014, which provides empirical evidence that trade and export finance, in all forms, is a low-risk bank financing technique.

In an honourable mention, SWIFT – the financial messaging provider and key long-term institutional partner of the ICC Banking Commission – was also awarded the 2014 Excellence Award Silver Medal for Best Non-Bank Trade Services Provider. On 1 July 2013, the ICC Uniform Rules for Bank Payment Obligation was launched worldwide. The joint initiative between ICC and SWIFT produced a 21st century standard in supply chain finance to facilitate international trade.

“This recognition marks the shifts taking place in the Banking Commission as we strive to keep pace with the changes taking place in world markets,” said Tan Kah Chye Chair of the ICC Banking Commission. “We will continue to build on our wealth of experience while expanding areas such as standards-writing, policy-making, market intelligence and education.”

TFR is a leading trade and supply chain finance information resource providing essential updates to professionals all around the globe. Through an independent, third-party assessment based on testimonial comments and marketplace feedback of 500 voters, the TFR award goes a long way to help the Banking Commission benchmark the success of its dynamic strategy and projects.

“The mandates and functions of the Banking Commission have significantly evolved and expanded over the last 10 years of our 80-year history,” said Thierry Senechal, ICC Banking Commission Senior Policy Manager. “The award is a tribute to the leadership, members, staff and partners of the ICC Banking Commission who engage in the important work of supporting the trade finance industry every day. We are thrilled to be recognized for the work we undertake – from working on regulatory issues and the production of market intelligence to providing training or drafting international business standards.”

The ICC Banking Commission strives to be the most reputable and reliable provider of market intelligence for the banking industry. The commission’s most prominent publications the ICC Trade Register Report 2014 – presenting data and analysis from the ICC Trade Register – and the annual global survey series entitled Rethinking Trade and Finance, both provide timely, accurate and comprehensive data that contributes to true portrait of the trade and export finance sector.

On 2 July 2014, the commission will launch the 2014 ICC Global Survey entitled: Rethinking Trade and Finance – An ICC Private Sector Development Perspective.

For more information please visit the ICC Banking Commission.