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FCI Admits New Members in Ecuador, Hong Kong, India & Turkey


The following institutions were welcomed as new members:



Ecuador: Banco de Guayaquil S.A.
Hong Kong: China Minsheng Banking Corp., Ltd. Hong Kong Branch
India: Export Credit Guarantee Corporation of India Ltd
Turkey: Eko Faktoring A.S.
Turkey: Halk Faktoring A.S.

About FCI
Founded in 1968, FCI acts as a facilitator of open account trade by providing four major services to support the growth of the factoring industry globally, including 1) the promulgation of the General Rules of International Factoring (GRIF), the most widely used set of rules by banks and factoring companies for cross border correspondent factoring 2) the development of a state of the art correspondent factoring system called edifactoring.com 3) the creation of a robust education platform to provide e-learning, seminars, and other targeted education support to our members and 4) the promotion of our industry through innovative marketing efforts, conferences, and lobbying. FCI also publishes annual statistics on world-wide factoring volume, and reported 2013 volume of factored cross-border trade receivables in excess of EUR 403 BILLION, of which FCI members account for nearly 85% of this total cross border activity. FCI is recognised by global institutions like the ICC Banking Commission, The World Bank/IFC, EBRD, IADB, ADB, African Export-Import Bank and the IDB, as the voice for the worldwide factoring industry. FCI network today consists of close to 273 factoring members in 76 countries.

Factors Chain International
fci.nl



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