40th Annual Forfaiting Conference: Malta 2013

The mystic atmosphere and magnificent scenery had every attendant hooked.  The small but beautiful island of Malta, guarded by the knights of the Order of St. John, hosted our 2013 Annual Conference at the Grand Hotel Excelsior

, in the Great Siege Road of Floriana, a walking distance area from the Baroque in character spectacular fortress of Valetta, which is preserving much of its 16th century architectural heritage, even though World War II left its scars on the city.

Many interesting topics were covered including the application of the new URF rules and ways of avoiding disputes under these new rules. ITFA’s Vice-Chairman and Legal Advisor Sean Edwards shared with the audience his experience in the control of financial crime risk in trade finance and money laundering. Delegates also learned about the priorities for end users of trade finance instruments from the perspective of an exporter, and heard from Mr. Putz of EBRD talking about their experience in trade finance. Another interesting presentation was about the new Banking Payment Obligations (BPO) system.

Arriving at the Upper Baraca Gardens at the edge of Valetta via old-style horse carriages, everyone enjoyed the view of the 3 cities and of course a beautiful Gala dinner, experiencing the firing of the cannons from the Saluting Battery just before dinner.

The City of Valletta, apart from being a recognised World Heritage Site by UNESCO, hosted another great ITFA event, giving the opportunity to all delegates to meet again, exchange experiences and ideas and enhance their business relations, building a strong network of cooperating institutions.