The Board of Directors of International Factors Group appointed Mr. Corneliu Robu as Chairman of the IFG Legal Committee.

International Factors Group (IFG) is the oldest international factoring association with headquarters in Brussels, founded in 1963. Currently IFG has been dynamically developing new directions of activity such as IFG Academy (educational services), EU Forum (the institution of lobbying factoring in the EU) and other projects, related to global factoring promotion.

In 2008 the share of international factoring amounted to 13% from the total volume of the world market which reached EUR 1.325 bln, herewith the volume of international operations increased by 20% in 2008, demonstrating the most considerable growth during the previous years.

Apart from factoring companies the members of the association are also companies engaged in credit risk insurance, IT-support, risk-management in the factoring sphere. At present 161 companies representing 56 countries are members of IFG. The consolidation of the representatives of these types of business within one group contributes to the development of the world factoring industry and increase of competence of factoring business conduct, which reflects in the improvement of factoring services and decrease the companies’ losses due to the lack of infrastructure.

The following committees operate within IFG: Education Committee, IT Committee, Marketing and Development Committee and Legal Committee. Mr. Corneliu Robu, the representative of the Russian factoring industry has been recently appointed the Chairman of the Legal Committee. Mr. Robu has been the member of this Committee since 2003. The Legal Committee is responsible for maintenance of agreements and regulations, development of new products, consulting of the members of the association and educational activity. Mr. Robu is the Deputy Chairman of the Management Board of NFC, he has been in factoring business since 2001. At present Mr. Corneliu Robu is responsible for product range management, marketing and PR, international business of NFC.