Arab Bank has been named the ‘Best Trade Finance Provider’ in the Middle East, by Global Finance magazine in an exclusive survey to be published in the February 2010 issue.
Global Finance editors selected the best trade finance providers for each of the 71 countries, based on the criteria of transaction volume, scope of global coverage, customer service, competitive pricing and innovative technologies.
The Best Trade Finance Bank globally will be announced in the October 2010 issue.
Arab Bank has not only topped the regional list, but is the top provider in Jordan and Yemen. Other winners include Arab Banking Corporation, Bahrain; Commercial International Bank (CIB), Egypt; National Bank of Kuwait, Kuwait; BankMuscat, Oman; Doha Bank, Qatar; SABB, Saudi Arabia and Mashreq, UAE.
“Global trade finance volume contracted sharply in 2009, to the extent that lack of financing was part of the reason for a decline in world trade,” said Joseph D Giarraputo, publisher and president of Global Finance.
“We have selected the banks that stood by their customers during the credit crunch and found innovative ways to lower risk and speed cash flow from international transactions.”
