Saturday 27 December 2014
 
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trade finance

Bank of Fujairah plans big Africa expansion

National Bank of Fujairah (NBF) may open trade finance offices in Africa as part of an expansion of foreign business that is taking the bank far from its roots in one of the more remote, less developed parts of the UAE. With its h

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DIB picks Deutsche Bank for euro clearing

Dubai Islamic Bank (DIB) and Deutsche Bank have signed an agreement which will allow DIB to utilise the bank’s euro cross-border payment clearing solutions and its European trade expertise to facilitate letters of credit into Europe.

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Arab Banking Corp wins trade finance honour

Bahrain-based Arab Banking Corporation (ABC) was recently named the “Best Trade Finance Bank in Bahrain for the year 2013” by New York’s Global Finance magazine. The magazine has selected the best trade finance b

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Islamic trade finance: Lost in transaction

  The Islamic finance industry - which is growing rapidly in some areas, such as debt issuance - is neglecting merchandise trade, leaving trade finance for conventional banks to dominate, say analysts.  

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Apicorp seals trade finance deal with JP Morgan

Arab Petroleum Investments Corporation (Apicorp), a Saudi-based multilateral bank owned by the Arab states, said it has signed an agreement with JP Morgan Treasury Services to boost its trade finance offering for energy companies. Apicorp

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Apicorp seals trade finance deal with JP Morgan

Arab Petroleum Investments Corporation (Apicorp), a Saudi-based multilateral bank owned by the Arab states, said it has signed an agreement with JP Morgan Treasury Services to boost its trade finance offering for energy companies. Apicorp

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UAE, Qatar banks stop trade finance to Iran

The central banks of UAE and Qatar have told lenders to stop financing trade with Iran, bankers said, cutting another source of credit for a country struggling under Western economic sanctions imposed over its nuclear programme. The Gulf

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NBF inks $25m bilateral deal with Wells Fargo

The National Bank of Fujairah (NBF) has signed a $25 million bilateral trade finance facility with Wells Fargo Bank of USA. The facility has a two-year tenor and will support National Bank of Fujairah’s trade business growth. The f

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NBAD says lending selectively, plans branches

National Bank of Abu Dhabi (NBAD) said it was selectively extending new loans to support development projects in the UAE capital and had plans to open new branches and expand its trade finance business. Chief Executive Michael Tomalin said

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G20 leaders near $250bn trade finance deal

World leaders are close to agreeing a package of $250 billion in financing to support global trade flows, a source at the G20 summit in London told Reuters on Thursday. But analysts said the countries must act quickly to help unblock trade

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