union national bank raises customer awareness on ucp 600
Series of intensive customer interaction seminars held by UNB for its Corporate Clients
Union National Bank (UNB) recently organized a series of intensive seminars on “Uniform Customs and Practices for documentary credit 600” (UCP 600) for its corporate clients dealing with international import/export trade businesses in Abu Dhabi, Dubai and Sharjah.
These seminars were part of UNB’s continued proactive efforts to keep its corporate customers abreast of the latest developments within their respective fields and businesses. More than 150 Corporate clients attended this event along with Relationship Managers and Corporate Heads from UNB, and actively participated in the lively discussions which followed the presentations.
“We, as a bank are committed to add value to our customers’ business cycle by providing customers with the best banking services. At UNB, we offer prompt and detailed advice on the optimal options available to the consumer and update them regularly on the latest trends & issues in International Trade Finance,” commented Mr. Mahmoud Halawa (Group Head, Corporate Banking Group, UNB)
Speaking also at the event, Mr Qamar-Uz-Zaman (SVP & Head of Operations Division, UNB) said “ The importance of the changes made in UCP 600 are highly significant and through these sessions the Bank intends to explain these changes and it’s implications to our Corporate Customers .
Attendees were taken through a detailed presentation on the fundamentals of International Trade Finance and ICC guidelines governing the business. The primary discussion was focused on the implementation of UCP 600 and the need for such change. The ensuing discussions focused on how the trade finance business has evolved over the years and the criticality of having a clear and thorough understanding of basic principles.
