Reem Samawi’s Career Story

Trade finance: there’s always more to know

Reem Samawi talks to LIBF about how she built her career in trade finance, a specialism that was completely new to her when she started out, and the satisfaction she gets from being qualified to deal with complex international transactions.

Building a career in trade finance can have an element of serendipity: joining the right firm at the right time.

“When they asked me if I wanted to work on letters of credit, I said ‘yes’, why not?” That was how Reem Samawi took the first step into her career in trade finance. Twenty years later, she is the Head of Trade Finance Transactions at Cairo Amman Bank, in Jordan, and the holder of LIBF’s CDCS, CITF, CTFC qualifications and of the QTFS diploma.

Reem initially studied finance at Jordan University and then took an MBA before joining Arab Bank, which she knew had an international reach. Working with clients who were active globally appealed to her, but she had never really thought about trade finance. As a finance major, she knew the definition of a letter of credit, but not what it really entailed or why it was important.

“I didn’t know about trade documents, processes, or systems, or what it really means to deal with clients from all over the world,” she says. “It was a profound learning experience.”

Reem enjoyed building a career in trade finance for several reasons. First, trade finance helps clients. “Every transaction is different, and each client is different, and it can be very complex,” she says. But trade finance also has a wider impact. “Letters of credit in particular have a very important role in global trade,” she says.

Trade finance qualifications help

As Reem moved further into trade finance, she decided to improve her technical knowledge and skills by taking trade finance qualifications. “I was personally motivated to do the courses,” she says. “Experience on its own is not enough. You need a comprehensive understanding of trade finance rules and practices, and you also have to deal directly with clients. Then you get a positive cycle where what you’ve learnt informs your experience and your experience encourages you to learn more.”

Reem says her studies have not only been of personal and professional benefit to her. “They have reinforced my technical capabilities, but also strengthened my ability to manage and to lead complex trade finance scenarios,” she says.

The challenges – and pleasures – of studying

But developing deep professional expertise – and taking the exams to demonstrate it – is not easy. What was it like for Reem to study alongside a full-time job – and looking after two children?

It can be very demanding to study alongside a full-time job, but the knowledge and skills gained from studying for qualifications like CDCS and CITF are highly beneficial and directly applicable to our work. It’s a worthwhile investment.

Reem Samawi

Head of Trade Finance Transactions | CDCS, CITF, CTFC and QTFS completer | Cairo Amman Bank

Reem stresses that, for her, it wasn’t just about getting the exam credentials. “The materials, such as the case studies, provided valuable insight and really helped with a deeper understanding of trade finance. I enjoyed my studies.”

She also found the courses were an opportunity for a little bit of “me time”. “It’s hard to find a balance when you have a career and family, but my husband is very supportive and he always encouraged to improve my career and my professional knowledge,” she says.

Why go into trade finance?

Given the demands that building a career in trade finance can make, would Reem recommend the sector to others? “Yes, I would,” she says. “But I would also recommend that you get broad experience in trade finance as early as you can, that you work across all the products, and that you start studying for professional qualifications as early as you can. A mix of experience, formal study, and an ability to use digital solutions will help you adapt to a rapidly changing world.”

What does Reem expect the future to hold for trade finance? Could it become automated? “The machines won’t be able to do everything that people can do, especially in trade finance. That’s because it requires judgement,” she says. She points out that her own bank is based in Jordan, so trade finance specialists there need a deep understanding of the geopolitics of the region, as well as of the wider world.

“Working in trade finance changes the way you think,” says Reem. “You start to realise the importance of global trade and all the elements involved in it, from shipping containers to port authorities.”

What makes for a good trade finance person? Is it, say, about being detail-orientated, or being a team player?

“It’s very important to not miss details and also to be collaborative and to get on well with others,” says Reem. “However, what it comes down to is how they judge a problem. Can they put their finger on it straightaway and suggest a good solution?”

And, if you can do that, how do you build a career in trade finance? “We’re in a rapidly changing environment,” says Reem, “so you need to read a lot, constantly improve your skills, and get the certificates that demonstrate your knowledge.”