Specialised credit management symposium in Malta

A specialised international credit management symposium is being held in Malta to discuss the impact of factoring in the Mediterranean. Factoring is a credit management practice to finance, collect and protect business invoices.

The symposium is organised by HSBC Bank Malta and FIMBank, on behalf of Factors Chain International (FCI), the world's leading network of cooperating factors with more than 200 members present in more than 60 countries. Other participating partners include the Malta Financial Services Authority, UniCredit, Infotech and Eurofactor.

FCI is supporting this region-focused event, which will host some 100 representatives from Mediterranean financial institutions, with the aim to ensure accurate transmission of factoring knowledge-sharing and experiences through the participation of existing factoring institutions within FCI.

“The network function of FCI is all important,” said Jeroen Kohnstamm, Secretary General of FCI. “The Symposium in Malta will not only concentrate on the sharing of know-how, but it will also stimulate our members around the Mediterranean to engage each other more in the handling of cross-border factoring business. For instance, the potential of increased business flows between Southern Europe and North Africa is substantial and our members in Malta are in a perfect position to play a significant and guiding role in that process.”

“Managing debt is a key function of any business,” said James Dunbar Cousin, HSBC’s Head of Commercial Banking. “Commercial enterprises can suffer cash flow difficulties and face seriously overdue debts if they do not employ a professional and disciplined credit management process.”

Margrith Lütschg-Emmenegger, President of FIMBank plc said: “The Symposium held by FCI in Malta is a further proof of the island’s credibility as a Financial Centre and of the importance that factoring is gaining in the Mediterranean region. This international forum will give the opportunity to professionals and Financial Institutions to benefit from intrinsic knowledge in an expanding sector.”

The Mediterranean International Factoring Symposium, held at Hilton Malta, comes to an end on May 8. More information may be obtained from fcisymposium@conference.com.mt.