The objective of this workshop is to upgrade knowledge and skills of the employees of the bank and help the bank to create a core LC team so that the overall purpose of banks non funded income is increased while minimizing the risk. KFA has designed this workshop with highly practical approach.
As we know that a letter of credit is a document issued by a third party that guarantees payment for goods or services when the seller provides acceptable documentation. Letters of credit are usually issued by banks or other financial institutions.
Letter of Credit (LC) as we know it is one of the major lines of business of commercial banks. Employees working in the bank must have a comprehensive knowledge of this product for minimizing the risk involved, facilitating the customers, providing relevant and true information to the customers and also doing necessary operating activities for conducting various LC related activities.
Letters of credit are most often used in international trade, where they are governed by the Uniform Customs and Practice for Documentary Credits (or UCP), the rules of the International Chamber of Commerce. However, they can be used in other situations.
Assistant / Mid-level from LC & Trade Finance Department