J. Sifri Consulting Services

a. Legal Courses: Given by lawyers to lawyers and address legal issues such as the contractual relationships between the parties of the documentary credit transactions, the legal jurisdiction that will apply in case of disputes, definitions ...etc. Law is a vast sophisticated terrain totally independent of banking. A course of this nature would shatter the focus of bankers away from their core duties and could lead them to indulge themselves in studying and researching aspects totally unrelated to their work. For banks, this type of training is literally a value destroyer.  

b. Import/Export Facilities Courses: Given by Senior Credit Experts to account relationship managers/officers (facilities executives/managers)  of SMEs and Corporates to assist them in understanding the principals of setting the relationship issuance/advising limits and granting loans for import/export purposes. 

c. Risk Courses: Given by Economists and Banking Experts to top management trade finance executives at banks to help them to understand how to set limits, prepare agency arrangements, design quantitative risk evaluation tools for confirmation requests, understand relative imperatives such as the GNP...etc. This is another domain of international trade operations which is absolutely irrelevant to the daily work of LCs practitioners at banks. 

d. General Commere Courses: Given by Merchants or Senior Staff at Commercial Companies to staff of commercial, transport, insurance and other companies involved in preparing and issuing documents. 

e. Practical  Courses for bankers: Given by   Banking Operations Experts  - Trade Services  to senior and junior DCs practitioners in banks to convey to them the complex technical skills they need to avoid operational problems by training them how to follow the sound procedures of issuing import LCs, advising export LCs, handling amendments, checking documents and reimbursing customers.

For training executives in banks, the mission of availing their staff a training program of the type and quality described in e above is not at all an easy task. This is particularly the case when one considers the barriers that prevent the application of the LCs rules of practice instituted by the ICC. It is no secret that the UCP600, ISP98, URR525, INCOTERMS2000 and URC522 are seldom applied fully in areas like the Middle East where banks are compelled to consider a host of factors other than the requirements of said rules, for example the special Middle East socio-political environment, the language barrier, the efficiency of the legal system, the general standard of professional practice amongst the region's banks ...etc.

To put it simply, even the training courses designed by the world's leading LCs experts to train bankers on how to apply the LCs rules which represent the standard practice of international banks in certain commercially developed environments, would not yield the practical results sought by the banks' training executives in many regions i.e. it will not help reduce the operational problems of the banks. These courses too could be value destroyers if extended in isolation of the specificities of the market. It is our conviction that the successful training program is the one which always focuses on the most relevant issues and this can be achieved only through a continuous and unbiased interaction with the marketplace; training should make a measurable difference for those who participate and the institutions they represent. 

Further more, Generic training for Letters of Credit practitioners has proven to be ineffective. Every institution enjoys a host of unique facets that demand exact, rigorous and thorough attention. The relationship between all such facets is that of interdependence. Islamic Banking Trade Services is the most obvious example.

Taking into consideration all such factors, we have developed our "Practical Letters of Credit Training Program" to account for the environmental requirements of the Arab world; the course not only has an abstract theoretical facet, but also a practical one. The benefits of our training program are:-

1. The program is bilingual (English - Arabic): Intrinsically complex as it is, the jargon in which the UCP600 articles are drafted is an arduous impediment for those professionals and students whose accountabilities compel them to understand the UCP600 and other rules of practice. The course takes into account the language barrier and hence it is given in both languages; understanding the technical language of trade will vastly improve the level of practice.

2. Cost effective: With our unmatched prices, you can now bring back the training expense levels in line with the top management's lower expectations for revenue growth. To raise the value of our customer services and increase our market share, our prices have been reduced from $650 to a very competitive $350 per practitioner.

3. Assurance of the training quality (Money Back Guarantee): You don't need to worry about the quality of our training program. Our MONEY BACK GUARANTEE represents our undertaking that we will not receive any training fees or charges from the bank we train UNLESS the bank is fully satisfied with the quality of the training program and the level of utility gained therefrom.

4. After training follow up: our trainer will provide the trainees with his direct numbers and email so that they can reach him at any time for clarifications and technical questions on the material. Our after-training follow up ascertains the degree of retention of material by practitioners and it encourages the concept of continuous education and self development.

5. The course material is superbly presented in one book comprising the whole subject from a practical banking perspective. The book represents an authoritative reference for professionals and academics alike. It comes in about 500 pages comprehensively interpreting each of the UCP rules in an incisive and clear Arabic language whilst pinpointing the opposite technical terms in English. This is to lead the reader not only to develop a contemporary understanding of the subject in both English and Arabic, but also to become virtually capable of applying the provisions of the rules in a sound manner. Succinct in interpreting each rule on its own, the book also clarifies the various provisions that are inextricably linked to one another. In addition, the mechanisms of LCs, the trade cycle, the types of documentary credits and the roles and responsibilities of the different parties are some of the course's topics the book addresses in details.

The theory and practice facets of the book, in addition to the clear Arabic in which it is authored, makes it the strongest rivalry for most authoritative English texts published by the world’s reputable institutes and chambers. This Arabised text is truly indispensable for the Arabic speaking professionals and students alike. Not only does it constitute a powerful tool for self development, but it may also serve as a comprehensive guide to set forth a letters of credit instruction manual for banks.

Since its inception in 2002, The Practical Letters of Credit Training Course has been demanded by numerous banks all of whom expressed their sheer satisfaction with the standard of the course and the level of utility gained therefrom.   

Developed by internationally recognized trade finance experts, our "Practical Letters of Credit Training Program"remains the true mark of distinction amongst all training activities in the world of Letters of Credit. Outstandingly rated by all practitioners who attended it, this constantly demanded program has proven to be the most effective means to provide trade finance practitioners with the technical expertise they need to operate faultlessly and at the highest known standards.

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