Japan Exchange Group’s Post

"ICC Warrants vs Software Releases: A Comedy of Compliance" The ICC and corporate software releases have a lot in common. The PMs (ICC): "Here’s the QA report! Clear bugs need fixing before release (arrest)." The Business Leaders (Countries): "Yeah, but this release (visit) aligns with our quarterly goals (alliances)." Some classics: Germany: "We’ll follow the rules... unless it’s inconvenient." Hungary: "Rules? Let’s invite the bugs to the next release party!" US (_unsigned_ ICC membership 2 years after signing it): "We don’t even recognize QA... unless it’s someone else’s bug. We believe in our internal Test Reports" South Africa: "Bug might attend the meeting, but let’s ‘mutually agree’ it doesn’t." Moral of the story: Rules are great until it’s time to actually enforce them!

🚨 Attention Banks: True compliance with the new KFS guidelines means more than just translating documents. 🧑💼 It's essential not only to provide the KFS in local languages but to ensure every digital interaction involved in signing the KFS is understandable to your borrowers. Transparency is key, and that includes localizing eSign instructions, buttons, and eSign consent. 🌐 Google studies show over 60% of Indians prefer communicating in their vernacular languages. Similarly, our experience with NBFCs and MFIs using Leegality Local Language flows reveals a strong preference for non-English interfaces, with over 99% of borrowers opting for non-English languages. This highlights the importance of a fully localized digital experience. With Leegality, you can: 👉 Deliver the KFS in multiple regional languages. 👉 Deliver the entire digital KFS signing interface in 11 Indian languages 🏦 Banks, NBFCs, and MFIs, if you need help complying, don't hesitate to reach out!

Documents examination is an important and critical task in LC cycle, which determines the fate of presentation that the presentation is Complying / Non complying and either to be honored or rejected. Alhamdulillah, today we had 2nd session of our training workshop at JS Bank for a new batch on same topic DOCUMENTS EXAMINATION STANDARD UNDER LCS”. Participants gained a good knowledge and understanding of: a. General principle of Documents examination. b. Different type of documents called in LCs. c. Purpose and functionality of each document. d. Relevant articles from UCP 600 e. ISBP explanations. f. Relevance between Swift MT 700 field 46a and 47a Thanks to L&D and Trade Services JS Bank, BDI and all participants.

DGFT Enhances eBRC Self-Certification with API Integration and Bulk upload Feature [Read Notification] #dgft #ebrc #eBRCSelfCertification #api #apiintegration #taxscan #taxnews Read More: https://lnkd.in/gYHu3rWx

Crypto-Asset Reporting Framework XML Schema - OECD - OCDE . This document contains the user guide for the XML schema that supports the automatic exchange of information pursuant to the #CryptoAsset Reporting Framework (CARF), as approved by the OECD in 2023. While the XML schema has been primarily designed to facilitate the exchanges of CARF information between tax administrations, the XML schema can also be used for domestic reporting of CARF information by Reporting Crypto-Asset Service Providers, to the extent permitted under domestic law of the relevant jurisdiction.

DCSA released their latest report on overcoming legal and regulatory barriers to eBL adoption. The report is a useful resource for carriers, shippers, banks etc. And it's an appeal for governments and global organizations to work together to standardize legal requirements. The future of shipping is digital! Report here:

Update from Pakistan's FBR! 🇵🇰 📋 New Technical Specifications: Pakistan's Federal Board of Revenue (FBR) has introduced version 1.3 of technical specifications for API-based data sharing. 🔄 Aligned with E-Invoicing Mandate: This update supports Pakistan's move towards mandatory e-invoicing in the clearance CTC model, enhancing transaction controls. 📅 Document Release: The updated specifications were released on April 18, 2024, providing guidance on digital invoice data sharing methods with the FBR. 🛒 FMCG Deadline: Starting from February 1, 2024, FMCG tax-registered entities must submit e-invoices in JSON format in real-time, integrating their systems with FBR. Do you need assistance in implementing e-invoicing in this country? Let me know! 💼💻 #FBR #EInvoicing #DigitalTransformation #EDICOM #Pakistan

We're transforming global trade with eBL! 😀 DCSA's new report explores the path to 100% eBL adoption and the challenges ahead. It emphasizes the need for harmonized legal frameworks across jurisdictions. You can read it here: https://lnkd.in/g4TepXbd

The IRS has just released the highly anticipated Qualified Intermediary (QI) list, a vital resource to prevent entities without QI status from misrepresenting themselves to withholding agents. If you're a QI, it's crucial to verify your data for accuracy. The list reveals an intriguing mix of QIs without GIINs, with a notable 75% based in Europe. Interestingly, I discovered some new countries and potential vacation spots! The UK presence accounts for about 4% of the total, excluding branches, with over 3,500 QIs listed. Updated quarterly, this list includes entities approved for QI status and issued QI-EINs at least two months before the quarter's start, ensuring compliance and integrity within the system. Withholding agents should update their onboarding and change in circumstances processes to regularly check this list. This might be a glimpse into how national registers could operate under EU FASTER. Danielle Nishida Candace Ewell Jasper van Schijndel Matthias Staubli Thor Pors Dominick Dell'Imperio CAMILLE PEREZ Thomas Daffern Bilal Abba Hannah Tailor Omar R. Jamal Kabbaj Henry Risk Matt Osmond Nicole Lorenz Nenad Ilic, CFA #QI #operational taxes #FATCA #FASTER

Excited to share DCSA's latest report on overcoming legal and regulatory barriers to eBL adoption. The report is a useful resource for carriers, shippers, banks etc. And it's an appeal for governments and global organizations to work together to standardize legal requirements. The future of shipping is digital!  Report here: https://lnkd.in/dxdFUb8N