Page 65 - Data Controller News Today

The Islamic Development Bank (IsDB) and its trade finance offshoot are set to commence the second stage of a US$2.3bn coronavirus support package to boost exports in 57 member countries.    After disbursing some US$250mn in health-related assistance last year during the first step of its coronavirus support strategy, the bank says it has signed an agreement with the Islamic Trade Finance Corporation (ITFC) to begin a second stage, focused on trade.    The latest�...

To embed, copy and paste the code into your website or blog: Earlier this week, the Commonwealth of Virginia became the second state to enact comprehensive consumer data privacy legislation, joining California. On March 2, Governor Ralph Northam signed the Consumer Data Protection Act (CDPA) into law, as he was widely expected to do. The CDPA garnered widespread support in Virginia’s House and Senate and was pushed across the goal line in Richmond relatively quickly. The CDPA establishes a fr...

Data protection principles We will comply with data protection law. This says that the personal information we hold about you must be: Used lawfully, fairly and in a transparent way Collected only for valid purposes that we have clearly explained to you and not used in any way that is incompatible with those purposes Relevant to the purposes we have told you about and limited only to those purposes Accurate and kept up to date Kept only as long as is necessary for the purposes you have been tol...

The African Export-Import Bank (Afreximbank) has partnered with tech-based working capital solutions provider Demica to roll out a new supply chain finance (SCF) platform across Africa. The collaboration will see Demica license its technology platform to Afreximbank on a white-label basis. The solution will focus on approved payables financing, with coverage extended across Afreximbank’s member countries. “This is an innovative partnership with Demica and leading African financial instituti...

Overseas energy financing from Chinese policy banks plummeted last year in the wake of the Covid-19 pandemic, a new report says, as pressure builds on Beijing to drop its zest for coal projects in developing countries. According to data from Boston University’s Global Development Policy Center (GDPC), funding from the China Development Bank (CDB) and the Export-Import Bank of China (Cexim) plunged by roughly 43% in 2020. Having funded around US$8.1bn in loans for energy projects in developing...

The Covantis blockchain platform for post-trade processes has moved into full production, two years after being created by a group of major agribusinesses to digitalise agricultural shipping transactions. It was announced last week that the platform had gone live with more than 30 entities, including its six founding members – Archer Daniels Midland (ADM), Bunge, Cargill, Cofco, Louis Dreyfus Company and Viterra. The platform will initially cover bulk shipments of commodities such as corn and...

NMS Infrastructure has appointed Gareth Sinnett as head of trade finance, a newly created position for the UK-based engineering, procurement and construction (EPC) project developer. He is responsible for all trade finance activities at NMS, reporting to Nick Oliver, head of business development. Sinnett’s career includes 24 years spent across various senior roles within international development company Crown Agents and a number of its subsidiaries, winning and delivering multi-disciplinary ...

The sudden downfall of supply chain finance (SCF) heavyweight Greensill was triggered after US$4.6bn in insurance cover fell away overnight, court documents reveal. Problems with Greensill’s trade credit insurance cover first arose in July 2020, when Australia’s Bond and Credit Company (BCC) said it did not intend to renew or extend policies due to expire ...

Supply chain finance (SCF) provider Greensill could be at risk of insolvency within days, after Credit Suisse suspended two investment funds relied on by the London-based fintech. Credit Suisse issued a notice to investors on Monday saying it was immediately suspending its SCF high income and investment grade funds, which provide as much as US$10bn ...

Personal Data Protection Board ("Board") rendered a decision ("Decision") dated 09.10.2020 and numbered 2020/787 regarding the data breach notification made by a data controller ("Data Controller")...