Press Releases

ABJ and BAFT Sign Memorandum of Understanding to Enhance Cooperation in the Banking Sector

AMMAN, JORDAN (26 JANUARY 2026) –The Association of Banks in Jordan (ABJ) and BAFT (Bankers Association for Finance and Trade) have signed a Memorandum of Understanding (MoU) establishing a general framework for cooperation aimed at supporting the development of the banking and financial services sector.  

The MoU establishes a general framework for cooperation between the two organizations, reflecting a shared commitment to strengthening collaboration in areas of mutual interest and supporting the development of the banking and financial services sector. The MoU aims to create opportunities for knowledge exchange, capacity building, and engagement between the Jordanian banking sector and the international banking community.

Under the MoU, ABJ and BAFT intend to explore avenues of collaboration related to professional development, industry education, policy dialogue, and participation in regional and international banking initiatives and events. The partnership also emphasizes cooperation based on mutual understanding, good faith, and shared objectives. 

The MoU serves as an initial step toward potential future collaboration between ABJ and BAFT, with the ultimate goal of contributing to the advancement of best practices and professional standards in the banking sector. 

Commenting on the signing, Dr. Maher Mahrouq, Director General of the Association of Banks in Jordan, emphasized that the MoU aligns with ABJ’s role as the voice of the banking sector in Jordan, noting that the partnership will contribute to capacity building, international exposure, and the advancement of professional standards within the Jordanian banking community.

Tod Burwell, President & CEO, BAFT, expressed his enthusiasm for the partnership, stating: “We are very pleased to formalize this Memorandum of Understanding with the Association of Banks in Jordan. This agreement represents an important step toward strengthening collaboration with the Jordanian banking community and advancing our shared commitment to knowledge exchange, professional development, and the promotion of best practices. It strongly aligns with BAFT’s mission to build a global community of banking and financial services professionals.”

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About BAFT
BAFT is the leading global industry association for international transaction banking. Bringing together financial institutions, service providers, and the regulatory community, BAFT provides thought leadership, advocacy, education, and a platform for collaboration to promote sound financial practices that foster innovation, efficiency, and commercial growth. The association engages in a broad range of issues affecting transaction banking, including trade finance, payments, and compliance, helping members navigate a rapidly evolving global landscape. For more information about BAFT, visit baft.org, or follow BAFT on X (Formally Twitter), LinkedIn, and YouTube.

BAFT Announces Future Leaders Program Class of 2026

WASHINGTON, D.C. (January 16, 2026) – BAFT (Bankers Association for Finance and Trade), the leading global industry association for international transaction banking, announced today its Future Leaders Program Class of 2026. Now in its eleventh year, the program recognizes emerging talent and rising professionals across the global transaction banking industry.

Comprised of nominees from BAFT member institutions, the class of 2026 includes 40 individuals representing 15 countries across the Americas, Europe, Asia, MENA and Africa – including, for the first time, participants based in South Korea and Kenya. Candidates come from a diverse mix of financial institutions, solution providers, and supranational multilateral agencies; reflecting a broad range of disciplines within transaction banking. 

The 2026 class has been organized into five project teams that will explore and address timely industry issues, including Agentic AI use cases, practical uses of digital assets, leveraging emerging technologies for advancement of trade financing, non-banks in trade and supply chain finance and the future banker. 

“As we enter the second decade of the program, we have seen Future Leaders become current leaders in the industry,” said Tod Burwell, President and CEO of BAFT. “I’m excited to see and hear where this group believe the industry is headed on these important topics that we’re trying to address.”

BAFT board and regional council members will serve as project sponsors, while Future Leaders Program alumni will support participants as mentors. The class will convene in London at the annual BAFT Europe Forum later this March and will graduate in Florida during BAFT’s Global Annual Meeting in May. 

BAFT congratulates the following individuals who were selected to this year’s program:

  • Alejandro Anez, Swift
  • Julio Arnao, Crédit Agricole CIB
  • Meriem Belabbes, J.P. Morgan
  • Leone Bertacchi, BNP Paribas
  • Max Chin, Standard Chartered Bank
  • Alex Choi, SMBC
  • Patrick Crago, PNC
  • David John Diaz Fenollera, Banco Santander
  • Nico Dohnke, Zuercher Kantonalbank
  • Mohammad Escandar, Deutsche Bank
  • Omar Farhangyar, Royal Bank of Canada
  • Tyler Genton, Deloitte Consulting
  • Dana Gordon, Citi
  • Reem Haddad, The Housing Bank for Trade and Finance
  • Kathleen Harker, ANZ Bank
  • Marvin Jean-Ernest, Crédit Agricole CIB
  • Jason Kim, BNY
  • Germans Lapins, UBS
  • Thuy-Van Le, Société Générale
  • Shelby Lee, CIBC
  • Susie Macara, Barclays Bank
  • María Fernanda Márquez Martínez, Banorte
  • Sergey Maslennikov, BNY
  • Aboubakar Sidick Meite, African Export Import Bank
  • Falk Mueller, Barclays Bank
  • Mercy Oladejo, Lloyds Banking Group
  • Joel Paulsson, Nordea
  • Oliver Pringle, Fifth Third Bank
  • Henintsoa Ralaimaro, Trade and Development Bank
  • Natalie Roberts, NatWest
  • Kasia Rytelewska, ING Bank NV
  • Omar Abdelhamid, African Export Import Bank
  • Andreas Schaible, Commerzbank
  • Gabriella Serafini, Bank of America
  • Tom Vessey, Danske Bank
  • Teresia Wambugu, Standard Chartered Bank
  • Robert Weir, Lloyds Banking Group
  • Pepita Prithviraj Whitehouse, StoneX
  • Yanshi Helen Wu, Bank of China U.S.A.
  • Seung-Eun Yi, BNP Paribas

Learn more about BAFT’s Future Leader Program here.

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About BAFT
BAFT is the leading global industry association for international transaction banking. Bringing together financial institutions, service providers, and the regulatory community, BAFT provides thought leadership, advocacy, education, and a platform for collaboration to promote sound financial practices that foster innovation, efficiency, and commercial growth. The association engages in a broad range of issues affecting transaction banking, including trade finance, payments, and compliance, helping members navigate a rapidly evolving global landscape. For more information about BAFT, visit baft.org, or follow BAFT on X (Formally Twitter), LinkedIn, and YouTube.

BAFT Applauds New York for Modernizing Trade Laws 

WASHINGTON, D.C. (December 10, 2025) – New York enacted major legislation to support and increase the digitalization of trade finance. BAFT (Bankers Association for Finance and Trade), the leading global industry association for international transaction banking, applauds Governor Kathy Hochul for signing, Sen. Brad Hoylman-Sigal, and NY Assemblyman Alex Bores for their efforts to bring legal clarity and recognition for digital trade payment instruments. 
 
“New York Law governs a significant volume of international commerce, so this was particularly important for the United States to maintain its leading role in international trade. This update will provide interoperability with the global community that have already adopted or are currently considering similar legislation,” said President and CEO Tod Burwell, BAFT. 
 
A large obstacle to trade digitalization is the lack of recognition for electronic trade documents under various legal frameworks. Much of the trade finance process is to this day physical paper dependent. The law allows for interoperability between New York and is compatible with electronic records contemplated by UNCITRAL’s Model Law of Electronic Transferable Records (MLETR), which is the basis for many legal frameworks around the world. Thirty-three states in the United States have adopted similar legislation. 
 
With New York being one of the leading and most influential states for commercial transactions in the world, the passage of this legislation marks a significant advance in digitalizing the trade finance process. 
 
BAFT will continue its efforts to bring all 50 states to adopt similar legislation as well as continuing its efforts globally to bring acceptance of digital trade finance documents. A link to the bill can be viewed here. 

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About BAFT
BAFT is the leading global industry association for international transaction banking. Bringing together financial institutions, service providers, and the regulatory community, BAFT provides thought leadership, advocacy, education, and a platform for collaboration to promote sound financial practices that foster innovation, efficiency, and commercial growth. The association engages in a broad range of issues affecting transaction banking, including trade finance, payments, and compliance, helping members navigate a rapidly evolving global landscape. For more information about BAFT, visit baft.org, or follow BAFT on X (Formally Twitter), LinkedIn, and YouTube.

BAFT Releases White Paper on Managing Liquidity, Operational, and Financial Crimes Risks in Instant Payments

WASHINGTON, D.C. (November 5, 2025) – BAFT, the leading global industry association for international transaction banking, has released a new white paper titled “Liquidity, Operational, and Financial Crimes Risks in Instant Payments.” As instant payment systems gain momentum worldwide, this timely publication addresses the evolving risk landscape tied to the speed, irrevocability, and complexity of these transactions. 

The white paper outlines critical considerations for financial institutions, including the need for enhanced real-time monitoring, proactive liquidity management, and tailored financial crime controls. It provides actionable insights for banks to develop a risk-based approach, ensuring safe and resilient instant payment services while maintaining innovation and customer confidence. 
 
“Instant payments are reshaping the global payments ecosystem, but with their benefits come heightened risks,” said Deepa Sinha, SVP for Payments and Financial Crimes at BAFT. “This white paper equips institutions with the tools and strategies necessary to mitigate these risks and operate responsibly in the new real-time environment.”

To access the full white paper, visit www.baft.org 

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About BAFT
BAFT is the leading global industry association for international transaction banking. Bringing together financial institutions, service providers, and the regulatory community, BAFT provides thought leadership, advocacy, education, and a platform for collaboration to promote sound financial practices that foster innovation, efficiency, and commercial growth. The association engages in a broad range of issues affecting transaction banking, including trade finance, payments, and compliance, helping members navigate a rapidly evolving global landscape. For more information about BAFT, visit baft.org, or follow BAFT on X (Formally Twitter), LinkedIn, and YouTube.

BAFT Launches White Paper on G20 Roadmap to Strengthen Global Economic Resilience and Payments Modernization 

WASHINGTON, D.C. (September 23, 2025) – BAFT, the leading global financial services association for international transaction banking, has released a groundbreaking white paper titled “The BAFT G20 Global Roadmap: Accelerating Economic Stability for a Resilient Future.”  Developed by the BAFT G20 Principles in Payments Working Group, the paper demystifies the structure, purpose, and measurable goals of the G20, while outlining its critical influence on global financial stability, sustainable growth, and the transformation of cross-border payments. 

As economic interconnectedness and digital innovation reshape the global financial system, the white paper provides clarity on the G20’s evolving priorities—from fostering macroeconomic coordination and climate resilience to driving real-world progress in payments cost reduction, speed, transparency, and accessibility. 

“This white paper is the first in a series that underscores BAFT’s commitment to advancing financial system modernization in line with global public policy goals,” said Deepa Sinha, SVP of Payments & Financial Crimes of BAFT. “By unpacking the G20 principles and cross-border payments roadmap, we aim to empower financial institutions, regulators, and payment providers to collaborate more effectively in building a resilient, inclusive, and interoperable global payments ecosystem.”

Key highlights of the white paper include: 

  • A comprehensive overview of the G20’s history, structure, and principles in areas such as digital transformation, sustainable development, financial consumer protection, and anti-corruption. 
  • An in-depth look at the 2020 G20 Roadmap for Enhancing Cross-Border Payments, including the roles of the Financial Stability Board (FSB) and the Committee on Payments and Market Infrastructures (CPMI). 
  • Progress and ongoing challenges in meeting the G20’s four key metrics—cost, speed, access, and transparency. 
  • Practical implications for both public and private sector actors, including banks, non-bank payment providers, market infrastructures, and regulatory authorities. 

The paper also aligns BAFT’s advocacy and education efforts with the G20’s global objectives, highlighting the importance of harmonized standards, regulatory consistency, and public-private partnership in delivering meaningful outcomes for economies and end users alike. 

BAFT invites stakeholders across the payments and trade finance communities to engage with this timely white paper, and to participate in the ongoing dialogue as the series continues with deeper dives into each of the G20 cross-border goals.

To access the full white paper, visit www.baft.org 

About BAFT 
BAFT is the leading global industry association for international transaction banking. Bringing together financial institutions, service providers, and the regulatory community, BAFT provides thought leadership, advocacy, education, and a platform for collaboration to promote sound financial practices that foster innovation, efficiency, and commercial growth. The association engages in a broad range of issues affecting transaction banking, including trade finance, payments, and compliance, helping members navigate a rapidly evolving global landscape. For more information about BAFT, visit baft.org, or follow BAFT on X (Formally Twitter), LinkedIn, and YouTube. 

BAFT Becomes Independent Association, Strengthening Global Mission

WASHINGTON, D.C. (September 2, 2025) – It is with great excitement that BAFT (Bankers Association for Finance and Trade) formally announces its independence as a separate association from the American Bankers Association (ABA).

As the leading global industry association for international transaction banking, BAFT brings together financial institutions, service providers, and the regulatory community to promote sound financial practices that support innovation, efficiency, and commercial growth. Through its advocacy, thought leadership, best practice guidance, and professional development, BAFT helps members navigate a rapidly changing global environment in areas such as trade finance, payments, and compliance.

“Establishing BAFT as an independent association is a strategic step toward deepening our global impact and positions BAFT to represent our members’ interests with greater agility,” said Tod Burwell, BAFT president and CEO. “As the voice of the transaction banking community, we are committed to advancing best practices, innovation, resilience, and excellence on a truly global scale.”

At a time when policy and regulatory developments continue to evolve, BAFT’s independence enables the association to maintain geopolitical neutrality and better represent the diverse interests of its international membership. Independence also provides BAFT members with greater influence over the association’s long-term strategic direction and services.

“While organizational structures may have changed, BAFT’s mission remains resolute. We will continue to provide the high-impact advocacy, insight, and global engagement our members rely on. As an independent entity, we are better able to adapt to the shifting demands of international commerce and provide leadership with global impact,” said Burwell.

Founded in 1921 by 10 midwestern U.S. bankers, BAFT became a wholly owned subsidiary of the ABA in 2001 and later merged with the International Financial Services Association (IFSA) in 2010. Since then, BAFT has grown significantly in scope, reach, and impact—today, more than 70% of BAFT’s member banks are headquartered outside of the United States. With members in over 60 countries, BAFT operates five regional councils that support the global transaction banking community.

About BAFT
BAFT is the leading global industry association for international transaction banking. Bringing together financial institutions, service providers, and the regulatory community, BAFT provides thought leadership, advocacy, education, and a platform for collaboration to promote sound financial practices that foster innovation, efficiency, and commercial growth. The association engages in a broad range of issues affecting transaction banking, including trade finance, payments, and compliance, helping members navigate a rapidly evolving global landscape. For more information about BAFT, visit baft.org, or follow BAFT on X (Formally Twitter), LinkedIn, and YouTube.