National Bank of Fujairah Opens Diamond Finance Unit in DMCC

Finance and Trade
22/12/2015 09:04

The National Bank of Fujairah (NBF) has opened a diamond financing office in the Almas Tower, part of the Dubai Multi Commodities Centre. The opening follows the establishment of a specialized diamond financing team in April this year focused on financing manufacturers and traders of rough and polished goods. According to a report in Emirates24/7, the unit brings in industry expert in order to provide a range of trade finance products tailored to client needs. "Indicative of the business’ success, the unit has become profitable within a year of commencing operations and has over 70 clients."