denotes premium content | Oct 15 2008 
News
posted 25 Jun 2008
People & places
IFA launches in India and South Asia
The International Forfaiting Association (IFA) has launched its India and South Asia Regional Committee in a reception attended by more than 70 delegates from major banking and forfaiting houses in the region.
Charles Brough, director of forfaiting at UniCredit Group in Singapore, was elected chairman of the committee. “This demonstrates that more and more people are interested in forfaiting,” said Brough. “Forfaiting is expanding in the region and is now a mainline product in many banks. There are good profits to be made in forfaiting here as margins are expanding and quite a few of the banks have now established dedicated forfaiting units.”
The event was also attended by IFA chairman Lucio Matassoni, also head of forfaiting at OCBC. “This is fantastic for forfaiting. The economies of India and a number of other countries in South Asia are growing rapidly and the forfaiting product is playing its part in supporting and fuelling this growth,” said Matassoni. “That we had so many attendees at the launch demonstrates just how relevant forfaiting is and how so many financial institutions are embracing the product there.”
The India and South Asia Regional Committee is comprised of three members, Rakshith Kundha of ICICI Bank, Yip Wai Har of Natixis and Charles Brough.
Organisations in the region that would like to join the IFA should contact any member of the committee for further information.
