National Bank of Fujairah (NBF) has announced the launch of its electronic trading platform – NBFX, which offers customers digital experience to hedge their treasury requirements…reports Asian Lite News
The new platform is available for both conventional and Shariah-compliant banking customers on a 24/5 basis, which means that customers can execute transactions during and beyond the bank’s working hours and benefit from liquidity across all time zones.
NBFX acts as an efficient, competitive and user-friendly venue for executing Foreign Exchange and Precious Metal transactions. It provides users with a tailored experience that is based on their needs with instant and easy execution of FX trades, order management and readily available transaction history. Unique to NBFX is the possibility for customers to execute FX Non-Deliverable Forwards (NDFs) and FX Time Options on a 24/5 basis.
VINCE COOK, NBFX, NBF’s CEO: “The launch of NBFX further highlights the bank’s commitment to being the best financial partner for customers; this is achieved by combining the latest technology with its in-depth market experience. This unique platform ensures that customers are able to customise it according to their preferences, have access to the most competitive price execution, and tap into valuable data and insights to help guide their decisions. In addition, they have the backing of a team of experts across treasury, trading and structuring to help them navigate market changes and hedge underlying risks. Looking ahead, we have plans to expand the scope of NBFX to cater to customers’ wider requirements across energy, base metals and soft commodities.”
Last month, National Bank of Fujairah, NBF, on Monday announced the launch of “NBF Connect”, a dedicated and exclusive banking platform for Small and Medium Enterprises, SMEs, and the first of its kind in the UAE.
The community platform will serve as a one-stop shop for SME members, which will include access to a suite of services and solutions as well as knowledge-sharing capabilities. Co-created with SMEs, this is the first time a bank joins hands with the SME community to create a platform of this kind “for SMEs, by SMEs”.
The platform will provide members with exclusive features. A suite of business services provided by fellow SMEs such as HR services, legal support, e-commerce and marketplace management for the SME community to meet their business needs.
NBF Connect will be an important part of the business ecosystem as notable partners like Etisalat and Visa join hands with NBF to offer a range of non-banking services to empower SMEs with the right tools and support them to move ahead in their journey.
Some of the other services include a discussion platform where SMEs will be engaging in industry-focused conversations such as the opportunities and challenges that currently exist, a news and events hub where members will be receiving the latest SME news and business trends coupled by a calendar of the latest SME events. Commenting on the launch, Rehan Ali, Head of Business Banking, said, “We are very excited to be launching NBF Connect, the very first SME platform in the UAE. Testament to their status as the engine of growth and development, SMEs contribute up to 40% of Dubai’s GDP alone. As such, we are proud to be the first bank to launch a platform that caters specifically to the needs and aspirations of these businesses. This platform embodies our long-term commitment to UAE’s vibrant business ecosystem as we worked closely with the SME community to bring it to life