Arab Banking Corp wins trade finance honour
Manama, May 27, 2013
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 banks in 83 countries or regions, including the Middle East. The criteria for choosing the winning banks included the volume of transactions, scope of global coverage, customer service, competitive pricing and innovative technology.
“We have selected the banks that are best serving the needs of corporations worldwide as they engage in cross-border trade,” said Joseph D Giarraputo, publisher and president of Global Finance.
“Now more than ever, the availability of trade finance at reasonable prices is crucial to the health of the global economy.”
An awards ceremony for all winning financial institutions will be held in September during the SWIFT International Banking Operations Seminar (SIBOS) in Dubai.
ABC’s global head of Trade Finance, Paul Jennings, said: “We are very pleased with this award, which recognizes ABC’s leading role in the Middle East trade finance market and our commitment to superb customer service.”
“ABC for more than three decades has been supporting the flow of trade between the MENA region and the rest of the world. We leverage our network on subsidiaries and branches in 17 countries to provide excellent trade finance solutions that help clients mitigate risks as well as facilitate their cross-border businesses,” he added.
ABC Algeria also received the Best Bank in Algeria for 2013 award from Global Finance, while ABC Islamic Bank received the Best Islamic Real Estate Deal 2012 from Euromoney.
Global Finance reports on international finance issues, covering a wide range of related subjects such as corporate finance, joint ventures and mergers and acquisitions, country profiles and capital markets. It also organizes annual awards for a number of banking areas. – TradeArabia News Service
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