by A. Darnailu@ Naedu
Imports
and exports are important business activities undertaken by Malaysian
entrepreneurs. Bankers and other relevant parties assist in the completion of
the transaction by playing their roles in issuing documents and securing
acceptance or payment.
Despite the fact that international trade has been playing an
integral part in import-export business activities, some businessmen and
bankers may not be well versed with the rules of the game, have sufficient
knowledge of the options and realise their full obligations, responsibilities
and the kind of risks they undertake.
The book Introduction to International Trade Finance, is
Institut Bank-Bank Malaysia (IBBM)'s latest publication. This book covers the
many aspects of international trade. Written in a simple and very concise
manner, this publication explains to readers the basics of international trade
finance, the various rules, terms and conditions used and the various payment
methods that are available for settlement purposes. Explained extensively is
the importance of Incoterms, which form an integral part of any international
trade transaction.
It was written based on the writer's vast experience in the
banking and finance industry, and from training programmes, workshops and
seminars that he has also attended and conducted on trade finance operations.
References have also been made to the several existing materials
on trade finance written by local and foreign writers, directives and
guidelines issued by Bank Negara Malaysia, the Export-Import Bank of Malaysia
(Exim Bank), Malaysia Export Credit Insurance Berhad (MECIB) and the
International Chamber of Commerce (ICC).
Apart from bankers and businessmen, candidates preparing for the
IBBM Diploma in Banking and Financial Services (DBFS) qualification will also
find this book useful as a supplementary reading material.