MUSCAT, SEPT 14 - Oman Logistics Association (OLA) recently organised a seminar on ‘Bills of Lading and International Commercial Fraud’ under the auspices of Shaikh Abdullah al Salmi, executive president of the Capital Market Authority. The seminar saw the participation of over 600 people from logistics companies, banks, insurance companies, law firms and governmental entities involved in imports and exports. OLA has been giving special attention to the presence of small and medium-sized enterprises, as it is fully aware of its role in supporting entrepreneurs and keeping them abreast of all new and useful developments in the logistics sector at the local, regional and global levels.
Dr Aflah bin Said al Hadhrami, chairman of OLA Board of Directors, said, “This seminar was held out of the Association’s commitment to raise legal awareness and promote logistical culture among the various categories and components of the sector and all workers and whoever is interested in import and export. In doing so, OLA seeks to fulfil the role entrusted to it in upgrading the logistics sector in line with the Oman vision 2040’’.
The seminar was chaired by Pottengal Mukundan, chief executive of the International Maritime Bureau, who offers advisory services in the field of commercial crimes for the International Criminal Court.
He addressed many issues, mainly the bills of lading, their significance, their illegal usages and tactics, ways to manipulate them, their latest evolutions, weaknesses in some documentation and control systems for bills of lading, cases investigated by the International Maritime Bureau, potential risks in trading operations across oceans, and precautions to be taken by banks to reduce the risk of manipulation of documents and bills of lading. Bader al Shidi, OLA development manager, said: “The theme of the seminar and the lecturer were carefully chosen by the Association to ensure the provision of valuable scientific material to the attendees.
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