Business agility is integral for survival
Today’s business environment requires companies to become more agile and adapt to the growing list of challenges brought on by geopolitical and economic issues. Whilst external factors are generally out of company’s control, businesses need to find ways to become more competitive to survive and grow in such a climate. As we have seen, the
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
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
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