Adding financial boost to ambitious aspirations
National Bank of Fujairah continues to play an active role in driving the emirate’s success story
Strategically located in the Arabian Gulf, Fujairah has successfully transformed itself into a leading energy and trade hub in the region. Over the years, the emirate has elevated its global profile by adopting information and market transparency measures in an aim to support stakeholders and market players. Testament to its worldclass and robust infrastructure, Fujairah has reached a critical mass that is driving a steady improvement of service standards, which in its turn is attracting the world’s leading fleet operators to seek it for bunkering services among others.
As part of the emirate’s growth and success journey, plans are underway to further boost its infrastructure with the Fujairah Port expansion project valued at Dh1.8 billion. This will not only increase the port’s annual container handling capacity but also help bolster the UAE’s social and economic development.
A key supporter to its home emirate, National Bank of Fujairah (NBF) has always played an active role in driving this success story. Boasting an unmatched energy and marine expertise, the bank is committed to elevating Fujairah’s position as a leading energy hub. Testament to this, NBF has also provided funding support to the strategic oil terminal infrastructure. Its Fujairah Freezone branch located opposite the Port of Fujairah provides customers easy access to financial support, at their doorstep.
NBF is well-positioned to tap the exciting opportunities arising from Fujairah and the UAE for further success. It is already working with many offshore support and shipyards service players across Abu Dhabi, Dubai and Sharjah that are critical to the region’s oil production.
With unmatched understanding of clients’ requirements in the energy and marine sector, NBF invests in dedicated relationship managers who can serve clients through the NBF Treasury solutions to manage commodity volatility and financial markets risk. The bank also provides structured trade finance solutions to the oil trading firms with a robust understanding of the oil cycle and performance guarantee requirements in the industry that are customers of Fujairah’s port and oil storage infrastructure. With expanded corporate finance capabilities, NBF’s experts can arrange larger transactions for acquisitions and project finance in the sector.
NBF is well-positioned to tap the exciting opportunities arising from Fujairah and the UAE for further success. It is already working with many offshore support and shipyards service players across Abu Dhabi, Dubai and Sharjah that are critical to the region’s oil production. As the bank cements its position as the best financial partner for businesses in the UAE, it remains committed to leveraging its Energy and Marine knowledge to support its home emirate in meeting its ambitious aspirations.
As the International Maritime Organisation’s directive to reduce the Sulphur content of marine fuels comes into effect in 2020, global energy and marine industry players will be closely following how the Fujairah market will adapt and what regulations will come into effect to implement IMO 2020. Being the bank’s home emirate and a key maritime hub, Fujairah will see innovative models deployed to finance the energy and shipping markets through 2020 and beyond.