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How to manage debt collection, in times of crisis

In times of crisis, business strategies need to shift, and internal processes need to take on a new direction. With widespread office and business closures across the globe, debt collection and credit management may become even more challenging to carry out. Whilst public health is predominantly at risk, due to the spread of COVID-19, the

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An update from LCI & LCI Services on COVID-19

Dear partners and colleagues, We hope you are safe and healthy. As the global pandemic, COVID-19, continues to spread, sending countries and businesses into a state of panic, we realize that we do not have a frame of reference, to help us navigate. When we look back at previous economic crises and compare them to

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What can businesses do to navigate in crisis mode?

The global impact of COVID-19 is unfolding at an exponential pace, which is greatly impacting the economy. In addition, business activity across all sectors has slowed, and trade has come to a standstill in many markets. From a business perspective, there are many implications resulting from the spread and panic around COVID-19, which include: A

IFRS 9: How will the approach to credit risk change?

Risks associated with trade credit have taken on a different angle, with the introduction of new standards under IFRS 9. Various geopolitical, economic and financial risks have prompted international bodies to approach risk appetite and mitigation in a different way. A recent introduction by the International Accounting Standards Board (IASB) pertaining to the International Financial

How SMEs can scale up their businesses

Small and medium sized enterprises (SMEs) can work on various levels to scale up their businesses, both domestically and in international markets. As SME experts, LCI’s team gathers daily insights, from monitoring over 16,000 companies, and continually identifies key areas of focus, to aid businesses to scale up. Here are 6 tips to help companies

LCI hosts 9th Annual Partners & Reinsurers Meeting

LCI held its 9th Annual Partners & Reinsurers Meeting in Beirut, on June 20 and 21, in the presence of local, regional and international guests. The meeting shed light on the strategic developments at LCI over the past year, and the plans for growth for the coming years. Corporate reviews on LCI and LCI Services

Strengthening partnerships in Egypt

LCI took part in the official conference hosted by GIG Egypt and the Ministry of Trade and Industry in March, 2019. The aim of the conference is to strengthen investment and collaboration opportunities between Egypt and Syria. LCI’s General Manager, Karim Nasrallah, shed light on the innovation in trade receivables management, to drive trade globally.

Digitization will impact the trade industry

Every day, fleets of huge ships dock in ports over the world and every hour, a plane carrying cargo lands, in one country or another. With every docking and landing, a stack of paperwork will need to be processed. Whilst this practice has been the standard process adopted by governments and countries for decades, the

LCI continues expansion in Africa, launching credit insurance program with ASKIA Assurances

LCI Services officially launches credit insurance program with ASKIA Assurances in Senegal LCI Services, the Lebanese Credit Insurer’s (LCI) servicing arm, has completed the implementation of tailored trade credit insurance products and services for companies in Africa, together with ASKIA Assurances in Senegal. The official launch brought together over 200 people and took place in

LCI launches TAJER supporting SMEs, the main drivers of the MENA region’s economy

TAJER: The simplified trade credit insurance policy helps support SMEs in their growth and expansion strategies The Lebanese Credit Insurer (LCI) has launched TAJER, an innovative, simple and efficient credit insurance policy for Small and Medium-sized Enterprises (SMEs) operating across the MENA region, providing cover for their trade receivables. Utilizing LCI’s expansive market intelligence, including

LCI takes part in the Berne Union AGM in Paris

LCI took part in the Berne Union’s Annual General Meeting, held in Paris in October 2018. Karim Nasrallah, LCI’s General Manager, delivered a presentation on the topic of factoring, covering a case study on fraud detection and prevention. Over 300 senior executives from the global export credit and investment insurance industry today gathered in Paris,

[Blog] Ensure a profitable business in 7 ways

Are you concerned with your business’ financial health? Do your clients pay late, or sometimes not at all? Here are 7 ways to avoid bad debt and ensure you’re running a healthy, profitable business. Lower risk factors by setting clear payment terms and conditions Set clear terms and conditions for your clients about payment procedures, timelines

[Blog] How is the ongoing trade war impacting the MENA region?

The trade war between the US and China has been making global headlines in recent months. The headlines then turned into action, with the US implementing a 25% tariff on Chinese exports, worth billions of US Dollars. China responded with a similar approach – and the trade imbalance between the two countries became even more

LCI and SACE sign cooperation agreement

LCI and SACE have signed a cooperation agreement, to enhance trade opportunities between Lebanon and Italy by supporting SMEs. The expertise and know-how of both entities will be extended to SMEs, along with training programs and technical assistance offered to financial institutions and commercial banks, as result of this agreement. SMEs make up the majority

Berne Union hosts Annual General Meeting in Belgrade

The Berne Union hosted its 2017 Annual General Meeting (AGM) in Belgrade in October, gathering 260 participants representing 70 of the 82 Berne Union member organisations, inclucing external guests. The Meeting was hosted by Serbian Export Credit Agency (ECA), AOFI. Members reported strong growth in new business across all committees, and although claims remain high, and the global risk

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