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National Bank of Fujairah PJSC (NBF) wins two awards at MEA Finance Banking Technology Awards 2022

  • Best Innovation in Trade Finance
  • Most Innovative Trading Platform

National Bank of Fujairah (NBF) PJSC announced today that it won two awards at the prestigious MEA Finance Banking Technology Awards 2022 for “Best Innovation in Trade Finance” and “Most Innovative Trading Platform”.

Reflecting on winning these prestigious awards, Vince Cook NBF’s CEO, said: “We are delighted at this external recognition of the progress the bank has made in utilizing it’s digital capabilities to develop ground breaking services for its customers. These two awards reflect NBF’s long standing focus on being a leading bank in trade finance and the trading of FX, commodities, etc. NBF continues to seek ways to leverage its deep banking experience and market insight within the UAE while building lasting relationships with customers and helping them leverage the emerging market opportunities to achieve their goals.”

Best Innovation in Trade Finance

In trade finance, the bank provides structured trade financing solutions customized to meet an individual client’s business activities. The bank’s Trade Operations team allows a more individualized service to be developed for its business and corporate banking clientele bringing additional advisory & technical support in the specialized structured trade arena, as required. A centralized trade products and sales desk was also established to get a better feel of evolving customer needs, while dedicated trade experts have been stationed across its branch network for a quick and better clients response.

Most Innovative Trading Platform

Last year, NBF had launched its electronic trading platform NBFX, expanding its digital offerings to better equip its customers with a bespoke digital experience for both conventional and Shariah-compliant banking customers.

Furthermore, the bank has achieved significant milestones in the treasury and trading front minimizing customers’ business risk exposure and maximising returns. NBF’s Sales, Trading & Structuring teams have been on a roll utilising state-of-the-art technology and superior market intelligence to keep customers one step ahead while managing their portfolios.

Industry recognition of NBF’s leadership in the local banking sector and trade finance has also been growing; not only has the bank won accolades from Banker Middle East for excellence in trade finance, commercial banking and treasury, but it is also a regular recipient of Commerzbank’s Straight Through Processing (STP) awards, which acknowledge excellence in the delivery of commercial payments and financial institution transfers.

The MEA Finance Awards 2022 recognize financial institutions, technology solutions providers and individuals for their exceptional achievement and inspirational leadership in delivering innovative products and services of the highest value to their retail and business customers.

 

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 with a stable outlook; and BBB / A-2 by Standard & Poor’s with a stable outlook, the bank is listed on the Abu Dhabi Securities Exchange under the symbol “NBF”. It has a branch network of 15 (of which 1 is an electronic banking service unit) across the UAE.

 

For further information, please contact:

Strategic Marketing and Communications Department

E-mail: CorpComm@nbf.ae

Telephone: +971 4 507 8351 and +971 4 507 8576