Maja StojkovićHead of Documentary Business and Guarantees Department
Societe Generale Bank
Working in foreign exchange departments for years, I have noticed that the companies that are very well familiarized with foreign currency laws and statutes, as well as with money and trade flows, carry out these foreign trade transactions with their foreign partners much faster and with cost savings.
Companies frequently face with dilemmas: what is permitted and what is prohibited in foreign exchange payments; what documentation is requested and which way to arrange business in case the bank guarantee or letter of credit is needed; what are the legal frames of such business or how to decrease costs? These are the topics that we discuss in the educational seminar "Combining letters of credit and guarantees in modern business”.
When company fails to comply with the regulations, managing even simple import/export operations can become problematic. In my opinion, it is very important that every company involved in international trade knows the basis of both parts of this puzzle, the banking part and the foreign exchange part.
My motto is: "If you think education is expensive, try ignorance."
Maja graduated from the Faculty of Economics, University of Belgrade. She has been working in the banking sector for more than 12 years, including 7 years on managerial positions in foreign currency sectors in several banks. She is an active member of the Foreign Economic Relations Committee at the Association of Serbian Banks.
Maja worked as documentary business specialist in 4 commercial banks. She is currently Head of Documentary Business and Guarantees Department at Societe Generale Bank.