Location
P.O.Box 2908 Damascus – Syria
Phone no.
(+) 963 11 33 44 391/2
P.O.Box 2908 Damascus – Syria
(+) 963 11 33 44 391/2
Under the patronage of the Central Bank of Syria, the International Chamber of Commerce Syria, in collaboration with Bank Al-Sharq S.A.S., jointly organized a specialized training titled “International Trade Finance - Letters of Credit”, held from 9 to 13 July 2025 at the Seven Gates Hotel - Sevilla Hall. The training was delivered by expert trainer Hussam Kadi.
This training marks the first in the “Syria Recovery” programme, launched by ICC Syria to empower the banking sector and enhance its capabilities in trade finance and banking services, especially in light of Syria’s growing re-engagement with global financial markets following the lifting of economic sanctions.
Key themes covered during the training included:
*Lifting of sanctions and market opening: As economic restrictions ease, Syrian companies must gain a solid understanding of international trade finance mechanisms to boost exports and ensure secure and efficient imports.
*Letters of Credit (LCs) as a key tool: Given their status as one of the most secure international payment methods, especially in volatile economic conditions, LCs were highlighted for their importance in safeguarding all parties in commercial transactions.
*Building trust with international partners: Understanding global rules, such as the UCP 600 (Uniform Customs and Practice for Documentary Credits), is essential to minimizing commercial disputes and enhancing transparency in financial transactions.
The training programme also included:
*The fundamentals of letters of credit and their various types.
*Common risks in trade finance and how to mitigate them.
*Practical case studies from international business contexts.
*Legal and logistical challenges specific to Syria.
The training was attended by 40 participants from the Central Bank of Syria CBS, the Ministry of Economy, and professionals from across the Syrian banking sector.
About the International Chamber of Commerce (ICC):
Founded in Paris in 1919, the International Chamber of Commerce (ICC) serves as the global voice of business, representing more than 45 million companies across 170 countries. It is the only private organization with a permanent seat at the United Nations, giving it a unique role in shaping global economic and trade policy.
In Syria, ICC Syria was established in 1987 as the official national committee. It plays a vital role in promoting cross-border trade, supporting sustainable economic development, and aligning national policies with international standards in areas such as arbitration, banking services, trade finance, sustainability, and the digital economy. ICC Syria also holds official representation at the ICC International Court of Arbitration.
Through ICC specialized training programs, such as Incoterms® rules, commercial arbitration, or international trade finance, we remain committed to being a strategic partner in skill development and in boosting the competitiveness of Syria’s financial and banking sectors.
