Latest news with #TransactionBanking
Al Bawaba
5 days ago
- Business
- Al Bawaba
NBB Launches Fully Digital Supply Chain Finance Solution to Enhance Working Capital Efficiency
The National Bank of Bahrain (NBB) has launched a fully digital Supply Chain Finance solution that connects buyers with their suppliers to enhance liquidity and optimise working capital to facilitate seamless trade and build better commercial ties, NBB's Supply Chain Finance solution, enables suppliers to receive early payments against approved invoices, while offering buyers the opportunity to improve their cash flow cycles. The solution, enabled through DigiCorp platform, reduces the administrative burden typically associated with manual payment processes by automating key interactions across the supply chain, allowing for quicker turnaround times and improved operational on the launch, Hisham Al Kurdi, Group Chief Executive – Markets & Client Solutions at NBB said, 'We are pleased to introduce the Supply Chain Finance solution, which demonstrates our ongoing efforts to provide digital-first services that empower our clients and enhance their business operations.'Vineet Munot, Group Head of Transaction Banking at NBB stated 'This initiative marks another important addition to our growing Transaction Banking offerings portfolio and reinforces our position as a market leader in delivering end-to-end trade finance and cash management solutions.'The solution offers a unique advantage to suppliers, particularly SMEs, by providing timely access to working capital without requiring additional borrowing or utilising existing bank credit lines. By offering attractive rates and a transparent financing process, NBB's Supply Chian Finance solution supports suppliers in maintaining financial stability and meeting their operational obligations more buyers, the solution contributes to more efficient balance sheet management and enables stronger alignment with strategic suppliers through improved payment cycles. By introducing an automated and transparent payment mechanism, buyers can not only streamline their internal processes but also reinforce long-term supplier with NBB's ESG objectives, the Supply Chain Finance solution plays an important role in strengthening the SME ecosystem by offering inclusive access to cost-effective financing. It seeks to build more sustainable and collaborative supply chains, reflecting the Bank's commitment to inclusive economic development. With the launch of NBB's Supply Chain Finance Solution, the Bank continues to expand its suite of innovative products aimed at driving business efficiency, growth, and resilience across Bahrain and the wider region.
Zawya
18-02-2025
- Business
- Zawya
ADIB successfully completes host-to-host integration project for Emirates Red Crescent
Abu Dhabi, UAE: Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has announced the successful completion of a consolidated Host-to-Host setup project, customised for Emirates Red Crescent (ERC). This achievement reflects the commitment of both organisations to advancing innovative financial solutions that enable seamless automated payments and support noble humanitarian initiatives across the UAE. The project, meticulously designed to meet the specific needs of ERC and its nine centres across the UAE, was successfully completed within a remarkable timeframe, culminating at the end of 2024. To celebrate this achievement, senior leadership and project teams from both ADIB and ERC came together at a dedicated event, underscoring the spirit of collaboration and shared commitment that defined the project's success. H.E Rashid Mubarak Al Mansouri, Secretary-General of the Emirates Red Crescent, delivered a keynote speech, highlighting the importance of cooperation for noble causes and commending ADIB for its dedication and support in executing the project. He also commended ADIB's exceptional efforts and dedication throughout the project. ADIB presented an overview of the integration, highlighting its objectives, scope, outcomes, and key benefits. Certificates of appreciation were awarded to team members from both organisations, recognising their hard work and outstanding contributions to the project's success. Commenting on the achievement, Mohamed Abdelbary, Group Chief Executive Officer at ADIB said: 'This partnership with Emirates Red Crescent underscores ADIB's commitment to leveraging technology to serve humanitarian efforts and initiatives. The successful implementation of this Host-to-Host setup underscores the power of collaboration and innovation in achieving impactful outcomes. ADIB remains committed to empowering communities through innovative technological and financial solutions and fostering partnerships that drive positive social impact." The Host-to-Host integration has transformed ERC's payment systems, delivering enhanced efficiency, reliability, and seamless operations across its nine centres nationwide. This collaboration highlights ADIB's leadership in providing cutting-edge Global Transaction Banking (GTB) solutions and reaffirms its commitment to empowering organisations that drive meaningful social and humanitarian impact. About ADIB ADIB is a leading bank in the UAE with AED 226 billion in assets. The bank also offers world-class online, mobile and phone banking services, providing clients with seamless digital access to their accounts 24 hours a day. ADIB provides Retail, Corporate, Business, Private Banking and Wealth Management Solutions. The bank was established in 1997, and its shares are traded on the Abu Dhabi Securities Exchange (ADX). ADIB has a strong presence in five strategic markets: Egypt, where it has 70 branches, the Kingdom of Saudi Arabia, the United Kingdom, Qatar, and Iraq. Named World's Best Islamic Bank by The Financial Times - The Banker publication, ADIB has a rich track record of innovation, including introducing the award-winning Ghina savings account, award-winning co-branded cards with Emirates airlines, Etihad and Etisalat and a wide range of financing products. For media information, please visit or contact: ADIB Edelman Lamia Khaled Hariz Simon Hailes
