National Bank of Fujairah Reiterates Commitment to Strengthening the Trade Sector at the GTR MENA 2020

National Bank of Fujairah (NBF) PJSC, announced today that it will be participating at the most comprehensive and long-established trade finance gathering for the Middle East & North Africa, GTR Mena 2020 on 17th and 18th of February. With established links to the region's primary trade bodies, financial institutions and regulators, the event is the premier platform to cement NBF’s position as a leading trade finance expert amongst the principal players across the Middle Eastern trade supply chain.

Commenting on the event, Vince Cook, NBF’s CEO, said: ”We are excited to mark our presence at this year’s GTR Mena 2020 as it helps to connect minds in the trade business to share knowledge on enhancing the trade environment in the UAE. We especially look forward to connecting with the industry’s participants to explore how best we can fuel further development in this space. Over the years, NBF has established itself as a leader in trade finance – a testament to its resilience, deep-sector knowledge and customer-first approach to banking. Looking ahead, we will continue to be dedicated to nurturing the growth of businesses across the UAE and to driving regional and international trade forward”.

In line with this commitment to supporting business owners, NBF was one of the first banks in the UAE to join the SWIFT Global Payment Innovation (GPI) network. This system enables the bank to actively leverage the global payment system to improve the customer experience with cross-border payments. Tackling the challenges in cross-border payments, SWIFT provides functionalities that allow banks to leverage transparency on fees and end-to-end traceability on payments conducted on behalf of clients. This technology will also allow NBF achieve a significant reduction in the number of payment enquiries and quicker investigations handling. It also streamlines the process and makes the experience of executing cross-border payments as hassle-free as possible for NBF clients.