NBF launches representative office in Antwerp, Belgium

DUBAI / WAM

National Bank of Fujairah (NBF), inaugurated its first international representative office in Antwerp Diamond District, Belgium, the largest rough trading hub in the world. This falls in line with the bank’s strategy to further cement its position as the leading financial partner for clients in the industry through its unparalleled sector expertise and bespoke solutions.
The new representative office of NBF is expected to bring value-added services and source market information to better serve existing clients in the Antwerp and the UAE. The ceremony was attended by Mohamed Issa Hamad Abushahab, Ambassador of the UAE to the Kingdom of Belgium, representatives from NBF Board and senior management, as well as partners and guests.
NBF’s diamond financing team complements bank’s focus on precious metals and jewellery sectors. The bank is widely regarded as one of the biggest local bullion banks in the UAE in terms of service coverage and provides an array of structured derivatives in commodities and base and precious metals. The bank moved to launching its diamond financing business in 2015 after bringing in industry experts from Antwerp Diamond Bank’s operations in Dubai to run business. NBF’s diamond products primarily involves providing short-term purchase and sales financing to established diamond traders.
Commenting on the representative office launch, Vince Cook, NBF’s CEO, said, “This is a proud moment for us, and a great testament to our focus on providing our clients with the best financial advice and connecting them with important stakeholders both at home and abroad. Since launching the diamond financing business, we have realised that our clients who are present in both Dubai and Antwerp would benefit from NBF being present in these two major diamond hubs. We are committed to using our presence in Antwerp to build on our reputation as one of the leading banks in the diamond business and grow partnerships with the local community.”