A memorandum of Understanding was signed in the Emirate of Fujairah, between Arab Trading Finance Program based in Abu Dhabi, UAE and National Bank of Fujairah P.SPC
A Memorandum of Understanding was signed in the Emirate of Fujairah, between Arab Trade Financing Program, based in Abu Dhabi, UAE and National Bank of Fujairah P.S.C., according to which the procedures for the designation as a national agency of the Program, are concluded, bringing the number to date to (16) national agencies in the UAE.
Dr. Jassim Al Mannai, Chief Executive Chairman of the Board, signed on behalf of the Program. H.H Sheikh Saleh Bin Mohamed Al Sharqi, Chairman, signed on behalf of National Bank of Fujairah P.S.C.
In a statement, Dr. Al Mannai noted that the MOU is the last step towards the designation of the national agency, as it sets up understanding and agreement on the general principles for the relationship between both organizations. This will be followed by a line of credit to be provided by ATFP. Furthermore, Dr. Al Mannai commended the role played by the National Agencies in spreading the services the Program provides, stressing on the importance of the credit facilities, trade information and the trade promotion services, in developing the production capabilities and competitiveness of the Arab exporters.
H.H Sheikh Saleh Bin Mohamed Al Sharqi, valued the role played by the Arab Trade Financing Program, through the financing facilities and other services it provides. He expressed satisfaction that NBF will now be able to play an even more active role in promoting inter Arab trade
About National Bank of Fujairah
National Bank of Fujairah (NBF) (www.nbf.ae) was established in 1982 in Fujairah, United Arab Emirates. Its key shareholders include the Government of Fujairah and the Government of Dubai.
The existing branch network is composed of ten branches throughout UAE, with plans to increase the number of branches up to 13 by the end of 2007. NBF is listed on the Abu Dhabi Stock Market under the symbol "NBF".