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Ministry Of Finance Issues Framework For Setting Up And Operating International Trade Finance Services Platform

The Ministry of Finance stated yesterday that International Financial Services Centres Authority (IFSCA) has been set up to develop and regulate the financial products, financial services and financial institutions in the International Financial Services Centres (IFSCs). Towards this end, IFSCA has issued a framework for Setting up and operating International Trade Finance Services Platform ( ITFS ) for providing Trade Finance Services at International Financial Services Centres ( IFSCs ). The framework will enable Exporters and Importers to avail various types of trade finance facilities at competitive terms, for their international trade transactions through a dedicated electronic platform viz, ITFS. This will help in their ability to convert their trade receivables into liquid funds and to obtain short term funding. This framework will provide an opportunity to the participants to avail trade finance facilities for trade transactions such as Export Invoice Trade Financing, Reverse

Arab Bank named the Middle East s Best Trade Finance Provider 2021

Arab Bank named the Middle East’s Best Trade Finance Provider 2021 DUBAI, February 28, 2021 Global Finance, the New York-based international publication, has recently granted Arab Bank the “Best Trade Finance Provider 2021 in the Middle East” award.    The recognition comes as an acknowledgment of the bank’s leading position in the region and its exceptional capabilities in providing the latest banking solutions and trade finance products that meet its clients’ evolving needs across the different sectors.   Arab Bank was selected for this award based on an evaluation process conducted by a panel of the magazine’s editors with input from international financial analysts, corporate executives and technology experts. Criteria for choosing the winners included transaction volume, scope of global coverage, customer service, competitive pricing and innovative technologies.

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