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National Bank of Fujairah

National Bank of Fujairah

The National Bank of Fujairah was incorporated in October 1982 by an Emiri Decree of the Ruler of Fujairah. Banking operations commenced in September 1984, with a branch in Fujairah. Within a few months, branches had also been opened in Abu Dhabi and Dubai, where the focus of business to the present time has been on the finance of foreign trade and, to a lesser extent in Abu Dhabi, on the contracting & construction industries, and on oil & gas related projects. By pursuing conservative lending policies and targeting established names in relatively stable trading lines, the Bank has shown consistent growth in profitability.

In 1990, the National Bank of Fujairah became the first bank in the Emirates to adopt International Accounting Standards and from 1996 has adopted the enhanced recommendation of International Accounting Standards contained in IAS 32. In 1995, the Bank doubled its capital by means of a share issue to existing shareholders, which was fully subscribed. At the end of 2002, the Balance Sheet capital adequacy ratio was in excess of 18% substantially higher than the minimum requirement of 10% recommended by the UAE Central Bank. The Bank is rated "BBB" by Capital Intelligence.

In late 1994, the Bank relocated to its own 7 storey building in the heart of Dubaiís financial district and a few months later moved into similarly owned new Head Office premises in Fujairah.
In April 1999 the Bank opened a branch in the Emirate of Sharjah ensuring higher standards of service for existing customers and offering considerable potential for expanding business in this important Emirate. In 2003 the Bankís opened a new branch at Jebel Ali Free Zone in Dubai where it already has a large number of customers with the new branch offering a more convenient service.

Privilege Express Banking

In todayís corporate world, precise and up-to-date information is the requirement for any business. To maintain their competitive edge, corporates need convenient, efficient, and secure financial solutions that meet their requirements.

National Bank of Fujairahís Privilege Express Banking service is designed to offer your business the best and most effective cash management solutions to meet the transactional and information needs of your business. With its wide range of services that address the broadest needs of your company, Privilege Express Banking offers flexible solutions and nimble execution to ensure that you get effective communication regarding your account, as well as an enhanced treasury service.

Privilege services include:

∑ Privilege Courier Service

∑ Privilege Auto Fax Reports

∑ Privilege E-mail Facility

∑ Privilege Exclusive Point of Contact

∑ Privilege Inward Remittance Information Service

∑ Privilege Express Payments

∑ Privilege Cheque and Local Bills Discounting Return Information Service

∑ Privilege Treasury Market Information

∑ Privilege Treasury Transactional Reports

∑ Privilege Trade Reports


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