The current turbulence in the economical and financial worlds is undoubtedly posing serious challenges for exporters and importers in Malta effecting cross-border payment transactions.

HSBC Malta, with its widely acclaimed international network and comprehensive expertise, is ideally placed to give invaluable assistance in this field. In fact, this is an integral part of HSBC’s ‘Leading International Business’ strategy based on the Bank’s competitive advantage derived from its unique worldwide network.

As part of its drive to sustain international business, HSBC Malta frequently teams up with the Malta Association of Credit Management (MACM) with a view to improve the understanding of risk management related to exposure to foreign business and trade operations financing.

During a seminar co-organised by the two entities, Senior Trade and Supply Chain Manager at HSBC Bank Malta, Gaetano Sammut, explained the importance of the key movement documentation required in international payment processes; the benefits derived from documentary Letters of Credit; and special instruments such as Standby and Transferable Letters of Credit.

Marco Saliba, Team Leader of the Guarantees Department at HSBC Bank Malta, also gave a very comprehensive presentation on special guarantees and how these fit within both the local and international payment system and also on the protection they afford.

Both speakers explained to MACM members how these instruments can be incorporated as part of innovative, non-traditional, and off balance sheet financing solutions offered by HSBC.

MACM Director General, Josef Busuttil, said these seminars were important tools for its members and the organisation remains committed to repeat similar educational events in the future.