The leading international transaction banking association

BAFT submitted a comment letter to UNCITRAL in response to its working group consultation on its Draft Model Law on the Use and Cross-border Recognition of Identity Management and Trust Services. The letter focused on the need for the establishment of ID management across numerous facets of international transaction banking including trade finance, supply chain finance, payments, and areas of compliance such as Know Your Customer (KYC) and Anti-Money Laundering (AML).

BAFT met with the Arab Academy for Financial Management, Egyptian Banking Institute and Afreximbank to discuss various cooperation opportunities to deliver BAFT training content across the Middle East and Africa. In June 2022, Afreximbank will deliver the first Correspondent Banking Workshop in Arabic. The association is evaluating content distribution relationships in the region, with an emphasis on trade, cash management and transaction banking programs.