Commonwealth experts to address concerns over banking relationships as global financial institutions are today terminating or restricting business relationships with clients, or categories of clients, to avoid rather than manage risk.
Commonwealth experts to address concerns over banking relationships
Many global financial institutions are today terminating or restricting business relationships with clients, or categories of clients, to avoid rather than manage risk. This is known in business terms as ‘de-risking’.
De-risking threatens to undermine developing countries’ access to the international financial system, which is essential to securing long-term finance and for transactions such as remittances and wire transfers.
In light of rising concern around the issue of de-risking, the ÌÇÐÄ̽»¨ will host a dialogue on 10 August in London, chaired by Dr Reginald Darius, ÌÇÐÄ̽»¨ Economic Policy Director.
A panel of experts, including David Lewis, Executive Secretary of the Financial Action Task Force (FATF), will discuss the findings and recommendations in the ÌÇÐÄ̽»¨â€™s report, Disconnecting from Global Finance, as well the broader international efforts underway to identify practical solutions to this growing issue.