DBS, StanChart lead banking group to develop digital trade finance registry


© Reuters. People walk outside the main branch of Standard Chartered in Hong Kong

SINGAPORE (Reuters) – DBS Group Ltd (SI:) and Standard Chartered (L:) are leading a group of 12 other banks in Singapore to create and conduct a digital trade finance registry, to mitigate the risk of trade fraud, the two banks said in a statement on Tuesday.

The move by commodity trade financiers in Singapore to team up to improve industry transparency comes after a spate of defaults in the city-state this year.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

READ  Are electric cars on a road to nowhere? | Letters

LEAVE A REPLY

Please enter your comment!
Please enter your name here