• IBEC keeps up with new technologies mainstream: digital platforms for financial instruments

IBEC keeps up with new technologies mainstream: digital platforms for financial instruments

The 3rd Liventsev readings took place at the Moscow State University of Foreign Affairs. The event was held for the third time in the format of a scientific-practical conference dedicated to the memory of Professor Nikolai Liventsev, who had been the head of the Department of International Economic Relations and Foreign Economic Affairs of MGIMO for many years. The theme of this year reflects the current global agenda - “Transformation of the modern international economic relations system in the post-bipolar environment”.

The event gathered a wide range of participants representing leading economic research centers, as well as a number of foreign scientific and educational organizations. The cross-cutting theme of all speeches and discussions was rapidly changing political and economic world order, including various aspects of these changes - from infrastructural and technological to financial and sociocultural ones. Among the main topics of the readings were: transformation of commodity markets and flows, digital technologies, new principles in statistics and auditing, green economy.

Executive Deputy Chairman of the IBEC Board, Vladimir Liventsev, the son of Professor Liventsev, took part in the readings. In his report “Stimulating cross-border trade operations by subregional multilateral development banks in the context of post-bipolarity” Mr. Liventsev presented a new vision and approaches to the development of international trade and export support and the role of international, primarily regional, development banks.

Given the persistent global trade finance deficit (according to the Asian Development Bank, it currently stands at $ 1.5 trillion), especially for the small and medium-sized business sector such institutions are able to offer new solutions and tools in the field of trade finance, including those based on the use of blockchain technology. Special attention during discussions was given to the use of modern digital platforms, and innovative approach being developed by IBEC has aroused great interest, both among business representatives and scientific audience.

Taking into account the mandate that is rare for international development institutions – at the heart of IBEC business model is support for trade operations and settlements – the bank is actively developing a wide range of operations aimed at supporting trade finance programs and economic cooperation of companies from member states. New digital technologies will simplify the mechanisms of international economic cooperation, qualitatively increase the reliability and transparency of financial transactions, and eliminate unnecessary regulatory barriers. This direction is an integral part of the IBEC development strategy.