DRAFT Improving the SMEs Access to Trade Finance
in the OIC Member States
47
open account terms, with only limited (but now increasing) attention to risk mitigation as a
complement to the payment and settlement aspects of open account transactions.
Figure 15: Open Account and Letter of Credit Volume, 1978-2011
Source: WTO Public Forum 2013, UniCredit Group
In this context, banks, as key providers of trade finance, have sought to extend their
involvement in open account trade by redefining their proposition to include financing
solutions targeted at supply chains and at the collection of commercial relationships that make
up such supply chains.
Figure 16: Physical and Financial Supply Chains
Source: WTO Public Forum 2013, UniCredit Group