Celebrating

25th Anniversary
in 2022

NEWS TFAB Annual Quiz & Social 2023 : The TFAB Annual Quiz & Social will be held on 11th Nov 2023 at the Marino Beach Hotel, Colombo NEWS

Welcome

Welcome to the official website of Trade Finance Association of Bankers.This site was launched at the 10th anniversary celebrations in 2007 and was re-launched at the 10th anniversary celebrations in 2017. This website has been a key element in disseminating knowledge to the membership. We would appreciate if you could let us have your comments or suggestions.

Who We Are

Trade Finance Association of Bankers (TFAB) is the only association representing the Trade Finance practitioners in Sri Lanka. The inauguration ceremony of the Trade Finance Association of Bankers was held on 11 November 1997. The association is celebrating its 20th anniversary this year.

Recent News

World Trade Report 2023 makes case for “re-globalization” amid early signs of fragmentation

The 2023 edition of the WTO’s World Trade Report presents new evidence of the benefits of broader, more inclusive economic integration as early indications of trade fragmentation threaten to unwind growth and development. The flagship publication, launched on 12 September, features findings on how re-globalization — or increased international cooperation and broader integration — can support security, inclusiveness, and environmental sustainability.

World's first carbon border tax enters into force in EU

The EU brought its Carbon Border Adjustment Mechanism (CBAM) into force on 1 October. It’s designed to equalize carbon costs for producers whether inside or outside of the EU. The CBAM will at first apply to imports of goods with particularly carbon-intensive production processes, such as cement, iron and steel, aluminium, fertilizers, electricity and hydrogen. For now, importers only have to collect and report data on the emissions generated in producing the products they buy. But from the start of 2026, they will need to declare annual imports and their "embedded greenhouse gases", then submit sufficient CBAM certificates to cover the emissions.

WTO halves trade growth forecast for 2023

The World Trade Organization (WTO) has halved its growth forecast for global goods trade this year, dropping it to 0.8% from 1.7%. "The trade slowdown appears to be broad-based, involving a large number of countries and a wide array of goods, specifically certain categories of manufactures such as iron and steel, office and telecom equipment, textiles, and clothing," the WTO says in its updated Global Trade Outlook for October 2023.