Business | Banking
UAE and Uzbek banks to cooperate on trade finance
Emirates NBD, the largest bank in Middle East by assets, and the National Bank for Foreign Economic Activity of Uzbekistan (NBU), the largest bank in Uzbekistan, have signed a memorandum of understanding (MoU) to explore the potential for cooperation in the field of trade finance.
- Staff Report
- Published: 00:30 March 17, 2008
Dubai: Emirates NBD, the largest bank in Middle East by assets, and the National Bank for Foreign Economic Activity of Uzbekistan (NBU), the largest bank in Uzbekistan, have signed a memorandum of understanding (MoU) to explore the potential for cooperation in the field of trade finance.
Signing of this MoU between the leading financial institutions from the UAE and Uzbekistan will provide further impetus to the strengthening of economic relations between the two countries.
The MoU was signed by Rick Pudner, CEO of Emirates NBD, and Saidakhmat B. Rakhimov, chairman of the board of NBU. Abdul Wahed Al Fahim, general manager of wholesale banking for Emirates NBD and senior management members from both banks were also present on the occasion.
Following the signing ceremony which was held at the Emirates NBD headquarters, the NBU delegation visited the Emirates NBD Pearl Museum.
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