MONROVIA, June 24 (LINA) -–A four-day International Trade Finance Program for 30 bankers from four West African countries is underway in the Liberian capital, Monrovia.
Organized by the Ghana International Bank (GHIB), the training started Monday in Monrovia.
In opening remarks, the Chief Executive and Managing Director of GHIB, Joe Mensah, said the program focuses on the recent issues in International Trade Finance, Risk Management, Money Laundering and Fraud as well as practical problem solving.
He said the bank combines a rapidly growing footprint across the continent with international expertise and correspondent links to all major global financial institutions, with Liberia being no exception.
Mensah said the 30 bankers attending the training program are from Gambia, Guinea, Sierra Leone and Liberia.
The GHIB Chief Executive said topics being discussed at the forum are: International Ttrade Finance, Correspondent and Corporate Banking, Treasury Services and Transactional Banking Services.
He disclosed that the bank’s exposure in the region has been growing rapidly with a current excess of US$300 million, reflecting a growth in both balance sheets of its Pan-African operation, which has doubled in the past ten years.
Mensah further revealed that the Ghana International Bank pre-tax profits has also increased and has a total asset base in excess of US$1 billion, which makes it a top level bank in the London market in terms of profitability and operational efficiency.
In remarks, the President of the Liberia Bankers Association (LBA) and President & Chief Executive Officer (CEO) of the Liberia Bank for Development and Investment (LBDI), John Davies, said LBA is committed to promoting continuous professional development to ensure a sound banking system in Liberia.
According to him, his institution will provide the forum for the discussion and communication on issues affecting the banking sector in particular and the economy as a whole; adding “that is why I am particularly delighted that GHIB is delivering this program here in Liberia”.