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Introduction about IFC FIT Initiative Program | Welcome to Hoang Nghiep Training and Consulting
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Home » IFC FIT Initiative Program

Introduction about IFC FIT Initiative Program

4 October 2009 No Comment

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History

The Global Trade Finance Program of the IFC has been in existence for approximately 3 years and in this short period has facilitated trade with developing countries to the value of over $1 billion. Through the GTFP bank network, local financial institutions can establish working partnerships with a vast number of major international banks in the Program that can broaden access to finance and reduce cash collateral requirements.

The GTFP has developed a network of international trade banks and is gaining momentum with an expansive network of Issuing Banks in more than 20 countries and a global web of confirming banks in over 60 countries participating in the program. Full information on the GTFP can be found at http://www.ifc.org/gtfp

Vision

The IFC Global Trade Facilitation programme now wishes to facilitate and accelerate the development of this international network of International trade banks and professionals, which will in time develop into a network of accredited finance of international trade professionals.

The intentions of the IFC GTFP under this project ‘FIT’ Initiative is to facilitate the implementation of a network driven accredited training program in the Finance of International Trade ‘FIT’ with a strong emphasis on the correct use and application of trade finance instruments including the new UCP 600 rules.

This technical assistance and training project will allow banks and bankers in developing countries of the IFC to gain a formal and internationally recognised accredited certification. It will also facilitate the development of a network of finance of international trade practitioners, and in turn reduce operational risk for emerging trade banks in developing countries.

IFC FIT Initiative Program

This initiative is based on the introduction of a specialised Finance of International Trade (FIT) certificate program designed to encompass the core operational areas of International Trade Finance and Payments. This innovative initiatve from IFC will be delivered by a team of leading organisations from around the world in order to ensure the highest standards of content, support and accreditation are offered to participants.

This international group is led by the electronic Business School International (eBSI), a leading International Trade and Finance Training organisation specialising in the delivery of eLearning programs in these important areas. eBSI has partnered with IFC to deliver the FIT Program in IFC’s Priority Countries with IFC support and through eBSI’s own Emerging Markets Grant Scheme (EMGS).

The FIT Program is certified by the Institute of Export UK and successful participants who pass the FIT Program’s continuous assessment elements will receive a certificate in Finance of International Trade from the Institute of Export UK.

Course content also includes ICC approved online training in UCP 600 provided by Coastline Solutions in Ireland.

This website will provide you with the latest info on the IFC ‘FIT’ Initiative, its program content, enrolment information and details of events occuring in participating countries. We welcome you to join this international network!

The IFC ‘FIT Initiative’ is an essential component in the training make up of all trade finance practitioners given its practical online approach to a broad spectrum of core trade finance products including Documentary Collections, Documentary Credits, Factoring, Forfaiting, Invoice Discounting, Bonds and Guarantees, all delivered in a comfortable and permanent Global Trade Finance Campus onliene.

(Source from http://ifcfitinitiative.com/

http://www.export.org.uk/index.php/professional-qualifications/ifcfit-initiative)

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