National Bank of Fujairah Participates in the 7th ICC UAE Trade Finance Conference

National Bank of Fujairah (NBF) PJSC, marked its participation at the seventh edition of the International Chamber of Commerce (ICC) UAE Trade Finance Conference as the diamond sponsor. Hosted at the Dubai Chamber of Commerce and Industry on November 20^th, more than 150 attendees gathered together to discuss the local and regional development impacting trade finance among other pertinent topics.

NBF boasts an unmatched trade finance expertise, with the sector being one of its key growth pillars. The partnership between the ICC UAE chapter and NBF dates back to 2011, when the bank first supported the event, highlighting its importance for both the commercial and banking sectors in the economy. Given the ever-evolving regulations and macroeconomic conditions, the platform enables stakeholders to reflect on the challenges as well as opportunities in this space.

This year, industry leaders from banking institutions, insurers, fintech firms and corporates discussed the prevailing challenges and opportunities in Africa, regional developments impacting trade finance, fintech, digitisation of businesses, and other topics of interest to the local and international stakeholders.

Giving the keynote speech at the opening of the conference, Vince Cook, NBF’s CEO said: “The ICC UAE Trade Finance Conference is going from strength to strength, and we are proud to be associated with this leading platform. Our participation at the event cements the bank’s position as the trusted financial partner for businesses in the UAE. The past few years have been rather complex due to the ongoing global challenges which have impacted the local economy. Despite these negative influences, the outlook for the UAE looks positive with the IMF expecting growth to strengthen over the next few years. There are massive opportunities for trade finance as the UAE continues to gain its significance as a trade and re-export hub between developed and developing economies. Moving forward, banks need to support the traditional trade finance products with sophisticated, online access as the only way forward to drive growth is innovation. We expect to see significant changes in the way that trade finance services are provided in the years ahead and are determined to be amongst the leaders in these improvements.”