As part of the Global Money Week, marked in North Macedonia, on 17 March, upon the initiative of the Commission for Documentary Operations (CDO) within the Macedonian Banking Association (MBA), and in cooperation with the Association of Financial Organizations at the Economic Chamber of North Macedonia, a hybrid educational workshop was held on the topic “Trade Insurance Mechanisms.”

The workshop was delivered by Mitko Teoharov, an insurance broker with many years of experience in the industry.

The main objective of the event was to educate employees in the banking sector on the role and application of insurance in trade transactions, with a particular focus on documentary banking operations. Approximately 30 participants from all banks in North Macedonia attended the workshop.

The following key topics were discussed:

·       The importance of insurance in commercial transactions

·       A comparison between domestic legal regulation and international practices in the insurance of goods

·       The role of the insurance policy/certificate in relation to other (non-)commercial documentation presented under bank guarantees, documentary letters of credit, and collections

·       Practical examples from real-life cases involving export insurance from North Macedonia and import insurance into the country

·       Insurance in specific situations and clauses (sanctions, dual-use goods, force majeure, etc.)

·       The digitalization of insurance at the global level, the current state in North Macedonia, and future development plans

·       The need for amendments to the legal framework to enable the introduction and expansion of digital forms of insurance in domestic practice

With this event, the Association of Financial Organizations at the Economic Chamber and the Macedonian Banking Association (MBA) implemented their second joint cooperation activity in 2026.