The Romanian Factoring Association (ARF) was established in April 2011 by 10 founding members, both Banks and Non Banking Financial Institutions (NBFIs). The Romanian Factoring Association's (ARF) goals are to promote Factoring among Romanian businesses and to assist the Factoring community by providing information, training and assistance. ARF projects: •Elaborate and implement the "Code of ethics and best practices" for the Factoring comunity •Involve in the area of legislative initiatives that would regulate the activity of factoring and protect the members of this community („Factoring law”) •Develop a comprehensive annual study of the Factoring market in Romania Governance structure: Bogdan Roșu – IFN Next Capital Finance SA – President Alecsandra Valasuteanu – UniCredit Bank S.A. – Member of the BoD Anca Udroiu – ING Bank NV Amsterdam – Member of the BoD Cristina Kalinov – Raiffeisen Bank S.A. – Member of the BoD Magda Zavelca – BRD– Groupe Societe Generale S.A. – Member of the BoD