Wednesday, Feb 1, 2023
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National Bank of Fujairah launches electronic trading platform NBFX

National Bank of Fujairah-IFM-image
NBFX is available for both conventional and Shariah-compliant banking customers

UAE-based National Bank of Fujairah (NBF) has announced the launch of its new electronic trading platform NBFX. Now, the bank’s customers will be able to carry out financial transactions beyond the bank’s working hours and benefit from liquidity across all time zones. NBFX is available for both of National Bank of Fujairah’s conventional and Shariah-compliant banking customers.

In this regard, chief executive of NBF Vince Cook told the media, “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, UAE-based Sharjah Islamic Bank (SIB) has announced the launch of its new SIB digital account. The bank’s customers can open an electronic account instantly through the mobile app from the comfort of their home.

During the same period, in a statement, the bank said its first-half net profit rose to Dh289.5 million for the six months period ended June 30, 2021, compared to Dh251.2 million for the same period of the previous year, reflecting an increase of 15.2 percent.

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