In Moeve Trading S.A.U. v Mael Trading FZ LLC, the Commercial Court confirmed that a buyer remains liable for the price of goods even where payment under a letter of credit fails. The court held that, unless a contract clearly states otherwise, a letter of credit operates only as conditional payment, meaning the seller may still pursue the buyer if the bank does not honour the credit. Because title in the cargo had passed and the buyer had not paid, the seller was entitled to judgment for the full purchase price under the Sale of Goods Act 1979.

Europe’s retail and wholesale sector, representing around five million businesses and nearly ten per cent of EU GDP, is navigating growing geopolitical tensions and supply chain disruption that are driving up costs and shaping consumer behaviour. Despite these pressures, the sector has historically shown resilience, with businesses continuing to adapt their supply chains while maintaining competitive pricing in an increasingly volatile global market. At the same time, advances in artificial intelligence and investment in sustainability are becoming central to long term competitiveness, offering new opportunities for efficiency while requiring significant financial commitment across the industry.

British Arab Commercial Bank has been named Best Trade Finance Bank for the Middle East and North Africa at the Trade Treasury Payments Awards, recognising its role in supporting trade across complex and often underserved markets. From its base in London and through offices across the region, the bank works closely with local partners and correspondent banks to manage cross border risk and provide reliable trade finance across North Africa. In 2025 it facilitated more than $2 billion in regional trade and distributed $1.5 billion in African trade assets, helping channel international liquidity into markets where access to finance remains limited.

Mastercard has partnered with Bank of Shanghai to connect its Mastercard Move platform with China’s banking network, enabling faster and more reliable cross border payments between China and global markets. The collaboration allows businesses, particularly SMEs, to send and receive payments more easily through bank accounts, cards and leading digital wallets such as Alipay and WeChat Pay. It also supports individuals by simplifying international transfers for remittances and overseas education payments, strengthening financial links between China and the rest of the world.

Network International has partnered with ADCB Egypt to introduce FICO Falcon Fraud Manager, Egypt’s first artificial intelligence driven transactional fraud detection system. The platform analyses millions of transactions in real time and builds individual behavioural profiles to quickly identify suspicious activity and protect customer accounts. The launch strengthens fraud prevention across Egypt’s growing digital payments sector and reflects the continued collaboration between Network International, ADCB Egypt, and Fair Isaac Corporation.

MORS Software has implemented its Treasury Management System at GB Bank, a UK property finance lender, strengthening the bank’s financial operations and risk oversight as it continues to expand. The platform automates key treasury functions including trade processing, risk management, accounting and payments, while integrating with systems such as Bloomberg and ClearBank. With improved visibility across its balance sheet, GB Bank can make more informed funding and liquidity decisions while maintaining a disciplined approach to growth.

What does it really take to build a successful factoring programme?

In ohr recent Trade Treasury Payments webinar in partnership with EBRD Trade Facilitation Programme, John Beaney, Director, HSBC Invoice Finance), Aysen Cetintas (Education Director, FCI ), Irina Tyan (Associate Director, EBRD Trade Facilitation Programme), and André Casterman 🇦🇪 (Founder & Managing Director, Casterman Advisory) shared practical insights on how banks can successfully design and scale receivables finance programmes.

As conflict escalates in parts of the world, debates around defence spending, financial resilience, and the true cost of war are returning to the global agenda. But the question of how wars are funded is far older than today’s headlines.

In “An old bill, due again: A short history of war finance,” Trade Treasury Payments explores how states have historically financed conflict and how many of the financial structures created during wartime have gone on to shape modern economic systems.

Written by Trade Editor Carter Hoffman, the publication traces the evolution of war finance and the institutions that emerged from periods of crisis.
Viewed against today’s geopolitical environment, the piece offers important historical context for current discussions around defence finance and economic stability.

Download the full publication PDF here:
https://lnkd.in/gNtbp3A8

New publication: An old bill, due again | A short history of war finance

As geopolitical tensions rise and defence spending returns to the centre of policy debate, the financial realities behind conflict are once again coming into focus. Yet the question of how wars are financed is far older than today’s headlines.

In “An old bill, due again: A short history of war finance,” Trade Treasury Payments explores how states across history have funded conflict and how financial mechanisms created in moments of crisis have often outlived the wars themselves.

Written by Trade Editor Carter Hoffman, the publication traces the evolution of war finance and the institutions that emerged from these pressures.
Placed against today’s geopolitical environment, the piece offers historical context for current debates around defence spending, economic resilience and the financial structures that underpin conflict.

Download the full publication PDF:
https://lnkd.in/gNtbp3A8

Trade Treasury Payments’ Devanshee Dave reports that Chubb will lead the U.S. International Development Finance Corporation’s (DFC) $20 billion Maritime Reinsurance Plan, designed to help restore commercial shipping through the Strait of Hormuz amid escalating tensions around Iran.

The strait carries roughly one-fifth of global oil supply, and rising risks in the region have made war-risk insurance critical for vessels operating in Gulf waters.

The reinsurance facility will initially cover Hull & Machinery and Cargo, helping shipowners secure protection and supporting the resumption of trade and energy flows through the corridor.

Trade Treasury Payments’ Devanshee Dave reports that Viaservice Kenya and Capital Pay LLC International have partnered to tackle one of the biggest cost pressures facing traders moving goods to and from South Sudan via the Port of Mombasa.

At the centre of the initiative is the removal of container deposit fees of up to $5,000, a long-standing financial barrier that ties up working capital for shippers and freight forwarders operating along the corridor.

Through the Viaservice Container Solution (VCS) and Capital Pay’s digital tracking system, the partnership also introduces real-time cargo monitoring, improving visibility, accountability, and container management across the logistics chain.

By reducing financial friction and operational delays, the initiative aims to strengthen the South Sudan trade corridor while making regional logistics more efficient for traders, freight forwarders, and shipping lines.

Trade Treasury Payments’ Devanshee Dave reports that Banco Santander and Visa have completed a controlled pilot of agentic commerce transactions across Argentina, Brazil, Chile, Mexico and Uruguay using Visa Intelligent Commerce.

The project tested whether consumers can delegate purchases to AI agents while remaining within regulated payment frameworks and issuer oversight.
During the pilot, AI agents completed book purchases in Argentina, Chile, Mexico and Uruguay, while a chocolate purchase was executed in Brazil, demonstrating how AI assisted transactions can operate across multiple markets.

Visa research also shows that more than 70 percent of Latin American consumers already use AI tools during shopping journeys, signalling growing momentum for AI assisted commerce across the region.

London — Trade Treasury Payments (TTP), the independent media and intelligence platform focused on liquidity and risk management, has launched TTP Studios, a dedicated broadcast studio in London designed to capture conversations about the cross-border financial systems that power the real economy.

On 11 March 2026, the EBRD Trade Facilitation Programme (TFP) and Trade Treasury Payments (TTP) will host a live webinar bringing together industry experts to examine how banks can design and implement traditional receivables finance and factoring programmes.

Trade Treasury Payments (TTP) spoke with David Yao, Executive Director at CIBC Capital Markets, about how shifting trade dynamics are reshaping financing needs across North America and what this means for corporate working capital strategies. 

At the Trade Treasury Payments Awards 2026 in Jersey City, USA, Trade Treasury Payments (TTP) spoke with Su Ashworth of Matalan, winner of the Editor’s Choice Award, about how a very real challenge during the pandemic became the starting point for a broader digital trade transformation.

In this edition of Trade Treasury Payments, we look at the long and complex relationship between war and money. Across history, governments have faced the same challenge when conflict begins: how to fund military campaigns without weakening the economy that supports them.