Shareholders approve NBF move into commodities

Press release

Published September 29th, 2011 - 11:23 GMT

Al Bawaba

National Bank of Fujairah PSC (NBF) held its Extra Ordinary General Meeting today at Al Diar Siji Hotel Fujairah, UAE, where shareholders considered and approved an amendment to the Bank’s Article of Association. The amendment will allow NBF to deal in commodities in addition to precious metals in both physical and derivative markets.

NBF’s Chairman, His Highness Sheikh Saleh Bin Mohammed Al Sharqi said: “This is in line with our long-term strategy of deepening customer relationships through an enhanced focus on our products and services proposition.

“NBF is a leading bullion bank in the UAE and being able to trade in additional commodities will allow us to better leverage our treasury expertise on behalf of our customers.”

Background Information

National Bank of Fujairah

As one of the most well-respected corporate banks in the UAE, National Bank of Fujairah is renowned for its award-winning services, unrivalled understanding of local markets and unwavering commitment to its customers. As the UAE’s bank of choice for over 30 years, it just makes good business sense to bank with National Bank of Fujairah.