SUBSCRIBERS
Fraud, rules and thin margins putting global banks off commodity financing
High-profile cases such as Hin Leong, Zenrock likely last straw for Euro banks, especially since Basel IV regulations took effect, say market watchers
Published Sun, Oct 18, 2020 · 09:50 PM
Singapore
SINGAPORE'S reputation as a trusted commodity trade financing hub has taken a hit of late, with the industry rocked by the recent spate of high-profile fraud scandals the likes of Hin Leong and Zenrock, said industry watchers.
Revelations of fraud were likely the last straw that led to the pullback of European banks from commodities trade financing here, they added.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
