Tashkent, Republic of Uzbekistan (17 June 2019). The Asian Development Bank’s (ADB) Trade Finance Program (TFP) hosted a seminar attended by more than 40 representatives from 15 local commercial banks in Uzbekistan, including the Central Bank of Uzbekistan. The event’s purpose was to highlight recent developments in international trade finance, featuring several sessions led by experts including Andreas Raithelhuber and Jacob Anderson of Business & Finance Consulting (BFC).
Mr. Raithelhuber has been a part of BFC’s ‘Due Diligence and Capacity Development of ADB’s TFP banks’ project since its inception in 2009 and has previously conducted numerous seminars for banking executives throughout Asia. At this event, Mr. Raithelhuber led sessions on how trade finance can be used to:
- Help exporters, importers and financial institutions to better manage credit risks
- Boost the capital adequacy and capacity of financial institutions to process larger trade volumes
- Unlock ADB support to further promote trade finance
Mr. Anderson has been involved in the same ADB project since 2012, having previously served as a banking regulator based in the United States. At this event, Mr. Anderson led a session focused on anti-money laundering that discussed case studies on trade-based money laundering, the importance of sanction compliance and international standards and resources that support further developments in anti-money laundering/combating the financing of terrorism (AML/CFT).
Backed by ADB’s AAA credit rating, ADB’s TFP provides guarantees and loans to over 200 partner banks to support trade, enabling more companies throughout Asia and the Pacific to engage in import and export activities. Since 2009, ADB’s TFP has supported more than 15,000 small- and medium-sized enterprises (SMEs) across developing Asia, through over 21,000 transactions valued at more than USD 36 billion.