National Bank of Fujairah participates in the 7th ICC UAE Trade Finance Conference
Attendees recognise the role of trade finance in enhancing business competitiveness and stimulating international trade
National Bank of Fujairah (NBF) PJSC, marked its participation at the seventh edition of the International Chamber of Commerce (ICC) UAE Trade Finance Conference as the diamond sponsor. Hosted at the Dubai Chamber of Commerce and Industry on November 20th, more than 150 attendees gathered together to discuss the local and regional development impacting trade finance among other pertinent topics.
NBF boasts an unmatched trade finance expertise, with the sector being one of its key growth pillars. The partnership between the ICC UAE chapter and NBF dates back to 2011, when the bank first supported the event, highlighting its importance for both the commercial and banking sectors in the economy. Given the ever-evolving regulations and macroeconomic conditions, the platform enables stakeholders to reflect on the challenges as well as opportunities in this space.
This year, industry leaders from banking institutions, insurers, fintech firms and corporates discussed the prevailing challenges and opportunities in Africa, regional developments impacting trade finance, fintech, digitisation of businesses, and other topics of interest to the local and international stakeholders.
Giving the keynote speech at the opening of the conference, Vince Cook, NBF’s CEO said: “The ICC UAE Trade Finance Conference is going from strength to strength, and we are proud to be associated with this leading platform. Our participation at the event cements the bank’s position as the trusted financial partner for businesses in the UAE. The past few years have been rather complex due to the ongoing global challenges which have impacted the local economy. Despite these negative influences, the outlook for the UAE looks positive with the IMF expecting growth to strengthen over the next few years. There are massive opportunities for trade finance as the UAE continues to gain its significance as a trade and re-export hub between developed and developing economies. Moving forward, banks need to support the traditional trade finance products with sophisticated, online access as the only way forward to drive growth is innovation. We expect to see significant changes in the way that trade finance services are provided in the years ahead and are determined to be amongst the leaders in these improvements.”
About National Bank of Fujairah PJSC:
Incorporated in 1982, National Bank of Fujairah PJSC (NBF) is a full services corporate bank with strong corporate and commercial banking, treasury and trade finance expertise as well as an expanding suite of personal banking options and Shari’a compliant services. Leveraging its deep banking experience and market insight within Fujairah and the UAE, NBF is well-positioned to build lasting relationships with its clients and help them achieve their business goals.NBF’s key shareholders include the Government of Fujairah, Easa Saleh Al Gurg LLC and Investment Corporation of Dubai. Rated Baa1/Prime-2 for deposits and A3 for counterparty risk assessment by Moody’s and BBB+/A-2 by Standard & Poor’s, both with a stable outlook, the bank is listed on the Abu Dhabi Securities Exchange under the symbol “NBF”. It has a branch network of 18 across the UAE.