Asian Development Bank to add RMB and INR currencies to its Trade Finance Programme
08/08/2014The Asian Development Bank (ADB) has indicated that it will add the Chinese Renminbi (RMB) and the Indian Rupee (INR) currencies to its Trade Finance Programme (TFP) before the end of the year. Since its launch in 2009, the TFP has only covered transactions denominated in US Dollars, Euros and Japanese Yen.
Recognising that there is no global standard for the defining Trade Finance, this Briefing document provides a suggested text and has been recommended for use by the ICC Banking Commisison Steering Committee...more
