The International Factors Group (IFG), Fimbank and the University of Malta have teamed up to launch a new trade finance qualification.

The Certificate of Finance in International Trade (Cofit) is to be a six-week course held in Malta and will cover all aspects of international trade, the import and export business, logistics and trade finance.

Margrith Lütschg-Emmenegger, president of Fimbank, tells GTR about the trade finance-specific elements of the qualification: “Cofit focuses on the practical aspects of real life trade finance scenarios, skills that are needed in order to cope with the increasingly complex global trade finance scenarios.

“This certificate programme is designed for those seeking to specialise and become trade finance specialists and will include six modules, which include subjects ranging from international trade finance models, practical issues in trade finance, risk management, compliance, regulations, financial crime, payment instruments, Islamic finance and emerging markets, amongst others.”

IFG secretary general Erik Timmermans adds: “Cofit has been jointly developed in order to meet the demands of the commercial world and offer a platform from which participants can increase their understanding of all aspects of international trade, the import and export business, logistics and trade finance.

“It incorporates the IFG Academy programme, which is the only international comprehensive and integrated programme on the theory and practice of factoring and commercial finance, and students wishing to enrol for the one-week programme can now also benefit from a formal university qualification and gain six European Credit Transfer and Accumulation System (ECTS) credits.”

Cofit is aimed at those hoping to work in trade finance, or those who wish to further existing careers in the industry. Timmermans explains: “This certificate programme will provide a sound framework for those wishing to further their studies or seek a career in the field of trade finance. It includes a combination of theory and practice with over 200 class contact hours with diversified specialists within the field.”

The aim is for the three institutions to develop a university degree and eventually a trade finance-specific MBA.