J. Sifri Consulting Services http://www.graincon.com/blog/ The Banking Consultants and Educators en Copyright 2008 Wed, 08 Oct 2008 19:39:03 +0300 http://www.sixapart.com/movabletype/?v=3.2ysb5-20051201 http://blogs.law.harvard.edu/tech/rss Standby Letters of Credit and the ISP98 ISP98

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Standby letters of credit are much too exciting to be left to professors of law and advocates alone. It is the tool that every business must come across in a way or another. Today, banks maintain books exceeding tens of billions of dollars worth of standby letters of credit. It is becoming the instrument that almost effect every thing we see; contractors need performance standby letters of credit to construct huge towers, schools, museums, oil platform, airport terminals, compounds, commercial markets; governments use them to effect payment of principles and interest of their treasury bonds and similar securities; insurance companies use them to compensate their insurers whenever needed …etc. The wide use of standby letters of credit around the world makes it more challenging to study. Some say it could even replace the commercial letters of credit, a hypothesis that may turn true if an exchange mechanism that enhances the buyer's and sellers' level of safety can be somehow engineered.    

]]> http://graincon.com/blog/2008/10/standby_letters_of_credit_and.html http://graincon.com/blog/2008/10/standby_letters_of_credit_and.html Trade Finance Wed, 08 Oct 2008 19:39:03 +0300 The LSE Access Route Qualification for J. Sifri Access Route Qualification

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Congratulations to our colleague Yacoub E. Sifri who has recently accomplished the "Access Route Qualification" of the "London School of Economics" (LSE – UoL) after passing the examinations of the subjects "Introduction to Economics", "Mathematics for Economics and Finance" and "Statistics for Business and Finance". Sifri remains at the LSE pursuing higher  internationally respected academic qualifications. Congratulations.  

 

]]> http://graincon.com/blog/2008/09/the_lse_access_route_qualifica.html http://graincon.com/blog/2008/09/the_lse_access_route_qualifica.html Banking Wed, 24 Sep 2008 17:45:27 +0300 Arab Bank attends the Fraud Detection and Prevention Course
Combating Organized Commercial Crime
In an active atmosphere, a group of bankers from the trade finance department, compliance department and risk management department of the Arab Bank - Jordan have recently attended our practical trade finance course: Fraud Detection and Prevention under Letters of Credit Transactions - Combating Organized Commercial Crime.

The trainees confirmed that they gained considerable technical knowledge about trade finance operations and understood the safe guards they need to apply in order to ensure running sound and safe operations whilst taking into consideration local and regional market practices that prevent the banks operating in the Middle East from applying the articles of the ICC rules of practice pertained to trade finance. The participants discussed several case studies which took place in our region and internationally.

AL Ghad Newspaper described the course as an essential activity for all Arab Banks especially that the training is run bilingually. The news can be read on this link Al Ghad Newspaper.

All rights reserved, J. Sifri Consulting Services  www.graincon.com

]]> http://graincon.com/blog/2008/08/arab_bank_attends_the_fraud_de.html http://graincon.com/blog/2008/08/arab_bank_attends_the_fraud_de.html Trade Finance Sat, 30 Aug 2008 16:22:50 +0300 A young Lebanese Jailed in Saudia for being Christian Christian Jailed

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Tony Nassar is a 30 years old young Lebanese working in Saudia. Being a Christian man, Tony holds with him an Icon of Mother Mary and the Holy Cross of our Lord. The  so called "Committee for requiring good acts and forbidding bad ones" (The saudi Islamic Police), arrested Tony and accused him of being an atheist and later on claimed that they found porno films and sex tools with him. They also accused Tony of pretending to be a Profit of God and that he claims that he talks to the angels. Tony was sentence to four years imprisonment by the shari'a Police.

]]> http://graincon.com/blog/2008/08/a_young_lebanese_jailed_in_sau.html http://graincon.com/blog/2008/08/a_young_lebanese_jailed_in_sau.html Politics and Economics Sat, 30 Aug 2008 08:12:13 +0300 What does the beautiful Queen want for the world Queen Rania
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Oprah.com) -- A businesswoman, a mother of four, an international fashion icon, a woman committed to making the world a better place for women and children -- Queen Rania of Jordan is truly changing the world.

 

]]> http://graincon.com/blog/2008/08/what_does_the_beautiful_queen.html http://graincon.com/blog/2008/08/what_does_the_beautiful_queen.html Politics and Economics Thu, 07 Aug 2008 13:02:47 +0300 The Openning of our New Banking and Trade Finance Book Store  

Book Store
Visit our Banking and Trade Finance Book Store
 Powered by Amazon.com, we are delighted to announce that our new dynamic and secured book store is now open. The store exhibits a wide range of invaluable banking and trade finance books that offer a wealth of knowledge for professionals and academics. The elegant store takes our visitors to an ever exciting journey amongst its wide range of invaluable books which almost every one would like to have.
]]> http://graincon.com/blog/2008/08/the_openning_of_our_new_bankin.html http://graincon.com/blog/2008/08/the_openning_of_our_new_bankin.html Banking Sat, 02 Aug 2008 08:45:11 +0300 Two sentenced in trade finance fraud Europe

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David Mahood and Michael Cuzner-Charles were sentenced at Belfast Crown Courtto a combined six years’ imprisonment (suspended for two years) in relation to the misuse of £2.5 million of investors’ money acquired by their merchant finance business Regal Brook Ltd. They have been ordered to pay £125,000 each by way of compensation and each disqualified from acting as a company director for seven years.

 

]]> http://graincon.com/blog/2008/07/two_sentenced_in_trade_finance.html http://graincon.com/blog/2008/07/two_sentenced_in_trade_finance.html Trade Finance Tue, 29 Jul 2008 15:47:16 +0300 The Banking Forums Banking Forums

   http://www.graincon.com/BankingForums/index.php

  

Banking is an independent and complete science in itself. It comprises of various branches the mastering of each of which requires a specialized academic study in addition to a long practical experience. To learn current accounts for example, the simplest of banking domains, a banker must study the local banking law, the commercial law in addition to the banks internal regulations and other operational requirements.
]]> http://graincon.com/blog/2008/07/the_banking_forums.html http://graincon.com/blog/2008/07/the_banking_forums.html Banking Sun, 27 Jul 2008 09:40:26 +0300 Standby Letters of Credit, A Comprehensive Guide Standby Letters of Credit, A Comprehensive Guide
www.graincon.com
This authoritative reference book gives thorough, practical guidance for anyone who needs to deal with standby letters of credit either professionally or academically.  Augmented with examples of numerous real-life cases, the book addresses the exact procedures undertaken by global banks in handling letters of credit transactions whilst incisively providing an article by article interpretation of the ISP98.
]]> http://graincon.com/blog/2008/07/standby_letters_of_credit_a_co_2.html http://graincon.com/blog/2008/07/standby_letters_of_credit_a_co_2.html Banking Thu, 24 Jul 2008 07:27:10 +0300 Full Description of the Book "Standby Letters of Credit, A Comprehensive Guide" Standby Letters of Credit, A Comprehensive Guide
www.graincon.com
This authoritative reference book gives thorough, practical guidance for anyone who needs to deal with standby letters of credit either professionally or academically.  Augmented with examples of numerous real-life cases, the book addresses the exact procedures undertaken by global banks in handling letters of credit transactions whilst incisively providing an article by article interpretation of the ISP98.
]]> http://graincon.com/blog/2008/06/full_description_of_the_book_s.html http://graincon.com/blog/2008/06/full_description_of_the_book_s.html Trade Finance Fri, 20 Jun 2008 09:27:10 +0300 Summer Time in the Beautiful State of Colorado; We love you America Summer time and the living is easy
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The State of Colorado is a state located in the Rocky Mountain region of the United States of America. Colorado may also be considered to be a part of the Western and Southwestern regions of the United States. The United States Census Bureau estimates that the state population was 4,861,515 in 2007, a 13.03% increase since the U.S. Census 2000. Denver is the capital as well as the most populous city of Colorado. Citizens of Colorado are known as Coloradans.

 

]]> http://graincon.com/blog/2008/06/summer_time_in_beautiful_state.html http://graincon.com/blog/2008/06/summer_time_in_beautiful_state.html Politics and Economics Sun, 08 Jun 2008 20:47:53 +0300 Crime without punishment: Special article: Russian organised crime Training

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Anonymous. The Economist. London: Aug 28, 1999. Vol. 352, Iss. 8134; pg. 17, 3 pgs

On 19August 1999, the Bank of New York (BONY), one of America's oldest, admitted to cooperating with an investigation into alleged money-laundering of as much as $10 billion. The paper-trail has touched several European banks too, all of which are said to have helped, over the past year, to move $4 billion from Russia to BONY's London office. As much as $200m that passed through BONY may have come from IMF loans to Russia. Most international banks have rules in place to detect and report money laundering. But in Russia, it is virtually impossible to tell whether money is earned legitimately. That is because crime is not at the margin of society: it is at its very center. Corrupt officialdom pervades the economy; organized crime pervades officialdom. The future depends partly on the mafia's own business planning, which is becoming increasingly sophisticated. The biggest worry for the rest of the world is not so much the prospect of a dismal, lawless future for Russia as of contagion outside its borders.

 

]]> http://graincon.com/blog/2008/05/crime_without_punishment_speci.html http://graincon.com/blog/2008/05/crime_without_punishment_speci.html Banking Tue, 20 May 2008 19:25:52 +0300 Earth Earth

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]]> http://graincon.com/blog/2008/04/earth.html http://graincon.com/blog/2008/04/earth.html Sport Wed, 02 Apr 2008 16:55:45 +0300 Standby Letters of Credit - A Comprehensive Guide New Book - Standby Letters of Credit

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A Palgrave Macmillan Book

This authoritative reference book gives thorough, practical guidance for anyone who needs to deal with standby letters of credit either professionally or academically.  Augmented with examples of numerous real-life cases, the book addresses the exact procedures undertaken by global banks in handling letters of credit transactions whilst incisively providing an article by article interpretation of the ISP98. Furthermore, the book also explains the credit operation cycle, the various parties to the credit transaction, types and uses -with special emphasis on tender and performance standby letters of credit, roles and responsibilities, risk management and fraud detection and prevention.  This provides all the tools you need to deal not only with routine problems but also with unforeseen difficulties.

Click here to order your copy

]]> http://graincon.com/blog/2008/03/standby_letters_of_credit_a_co.html http://graincon.com/blog/2008/03/standby_letters_of_credit_a_co.html Banking Fri, 07 Mar 2008 16:47:08 +0300 The Next Level: Middle Eastern Banks Seek Winning Strategy Strategic Planning www.graincon.com

For banks in the Middle East, setting the right strategy or altering the current one to take into account the changing and social environment is key to continuing growth. Achieving ultimate profit and overcoming risk-management challenges in 2008 requires an in-depth revision to adjust the fundamental elements of banks’ business strategy. In this second of a two part article, Yacoub E. Sifri explores what it will take for regional banks to find success in 2008 and beyond.

]]> http://graincon.com/blog/2008/03/post_8.html http://graincon.com/blog/2008/03/post_8.html Banking Thu, 06 Mar 2008 10:01:44 +0300