ICC Academy highlights bank need to “gear up” at ICC Qatar’s 3rd banking workshop

Singapore, 7 June: Ahead of the ICC Academy’s 7th Supply Chain Finance (SCF) Summit, Academy Sales Director Sashirekka Rountan addressed 200 participants attending a specialised workshop hosted by the International Chamber of Commerce (ICC) Qatar. This 3rd ICC Qatar Banking Workshop focused on ICC’s globally recognised standards and best practices, as well as the use of traditional instruments versus today’s new solutions.

Discussing the importance of boosting capacities, Ms Rountan said: “With increased competition between domestic banks in Qatar, many of the larger players in the sector are looking abroad for new growth prospects. Qatari banks need to gear up for switches in corporate behaviour and developments in international bank guarantees to succeed in the international market.

“As regulatory changes and increasing market competition are changing the rules of the game, Qatari banks need to equip themselves with the required knowledge and latest financial technologies emerging in the market.”

Ms Rountan went on to highlight the ICC Academy’s efforts to meet the educational needs of banks, corporates and financial organisations at the forefront of international trade. She said: “To help companies fill the knowledge gap and keep pace with evolving industry trends, the ICC Academy has been providing flexible and innovation learning, using its digital learning platform. With four industry-recognised certifications, a variety of specialised videos and a series of accredited events, the ICC Academy equips companies to gain a competitive edge to meet the changing requirements of their stakeholders.”

The workshop, which was organised in collaboration with The London Institute of Banking and Finance (LIBF) was led by Pavel Andrle, ICC Czech Republic’s Secretary to the ICC Banking Commission.  Mr Andrle said: “Digital trade finance benefits can bring about transformational benefits in the areas of improving operating efficiencies, margins and profitability of the companies. From a microeconomic point of view, the digital finance world can streamline government spending on infrastructure development in supporting trade and economic growth.”

The training also offered participants a comprehensive overview of new developments in international bank guarantees, emphasising the implementation of ICC rules for demand guarantees, as well as offered sessions on today’s advancements in trade finance, specifically touching on business process outsourcing (BPO) and blockchain solutions.

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Priyanka Satapathy
Marketing and Events Manager