International Chamber of Commerce Qatar hosts Banking Industry Meeting

Doha, March 03 (QNA) - The International Chamber of Commerce Qatar (ICC Qatar) held its first Banking Commission meeting of the year at Qatar Chamber on Wednesday 27th February 2019. Director of International Relations and Chamber Affairs of ICC Qatar HE Sheikha Tamader Al-Thani, provided updates regarding ongoing meetings with the concerned parties related to the use of the internationally accepted ICC Uniform Rules on Demand Guarantees 758 when issuing guarantees, commenting: "The Banking Commission meeting is an important opportunity to consider the latest issues relevant to the banking industry. Some of the topics discussed included ICC draft opinions, issuance of guarantee clauses by banks and Incoterms 2020 amongst others". The Vice Chairman of the ICC Qatar Banking Commission Ghassan Azar, presided over the meeting in the presence of representatives from the majority of banks in Qatar. Azar highlighted the importance of the upcoming ICC Banking Commission Annual Meeting 2019 that will be held from 8-11 April in Beijing, noting that it is the only event of its kind gathering banking executives and government officials from more than 65 countries to rethink the future of trade finance, encourage governments, regulatory bodies and G20 leaders to remove obstacles to trade finance and stimulate economic growth and job creation. Other topics include the increasing prominence of digitalization within the trade finance sector, the ongoing changes in regulatory and compliance requirements and the growing interest from both banks and customers in supply chain finance methods. (QNA)