Banks cautioned to limit risks in trade transactions


The General Manager of Operations at the Ghana International Bank, Mr. Mark Athur has admonished financial institutions to limit the inherent risks associated with financing local and international trade transactions.

According to him, financing such transactions came with dangers of unstable economies, fraud and problems with banks willing to release funds on time among others.

Addressing representatives of banks, importers and exporters at the opening ceremony of the four day strategic training on trade financing in Accra, he said limiting such risks were critical to enhancing trade between Ghana and its partners.

“When you think about trade finance, what comes to mind is how the country trades our goods and services. Cocoa is a good example on how commodities were sold. I think the country has done well. There is enormous history of performance with respect to trade and the opportunity in the next four days is to share the experience and use it to underpin some of those exposures that you can have with respect to trade”, he added.


Source: Graphic