http://ebsiexportacademy.com/images/stories/newslider/image7.png The first national roll-outs of the ‘FIT’ Initiative were launched on 5 March 2008 in Dhaka in Bangladesh and on 30 April in Karachi, Pakistan. 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 initiative 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 Initiative in IFC’s Priority Countries with IFC support and through eBSI’s own Emerging Markets Grant Scheme (EMGS).
The FIT Initiative 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
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 online.
The Dhaka event included representatives from IFC, eBSI and ICC Bangladesh among over 80 other mainly trade and banking related delegates. There was significant press coverage at the event and positive feedback on the relevance and need for such a Finance of International Trade qualification has already been received.
A series of seminars were held in Karachi and Lahore in conjunction with the Institute of Bankers, Pakistan to mark the launch of the IFC FIT Initiative in Pakistan. The Karachi event took place on 30 April and had over 60 participants.
At the launch in Lahore, Mr Nadeem Siddiqui, Country Head for IFC in Pakistan explained “The ‘FIT Initiative’ in Pakistan has been implemented with the support of the ‘IFC Global Trade Finance Program’ which itself, in a short period of time has proven to be a highly successful global trade finance support program for banks and
their customers in emerging markets, including Pakistan”. Notwithstanding the continued importance of Letters of Credit in financing such trade into and out of Pakistan, it has been identified that there is a need to apply other methods of payment and more advanced trade finance products to further accelerate the development of
exports from Pakistan.
Further details about this IFC Training Program can be found at http://www.ifcfitinitiative.net.