These seminars were part of UNB's continued proactive efforts to keep its corporate customers abreast of the latest developments within their respective fields and businesses. More than 150 Corporate clients attended this event along with Relationship Managers and Corporate Heads from UNB, and actively participated in the lively discussions which followed the presentations.
"We, as a bank are committed to add value to our customers' business cycle by providing customers with the best banking services. At UNB, we offer prompt and detailed advice on the optimal options available to the consumer and update them regularly on the latest trends & issues in International Trade Finance," commented Mr. Mahmoud Halawa, Group Head, Corporate Banking Group, UNB.
Speaking also at the event, Mr Qamar-Uz-Zaman, SVP & Head of Operations Division, UNB said " The importance of the changes made in UCP 600 are highly significant and through these sessions the Bank intends to explain these changes and it's implications to our corporate customers."
Attendees were taken through a detailed presentation on the fundamentals of International Trade Finance and ICC guidelines governing the business. The primary discussion was focused on the implementation of UCP 600 and the need for such change.
The ensuing discussions focused on how the trade finance business has evolved over the years and the criticality of having a clear and thorough understanding of basic principles.
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Union National Bank raises customer awareness on UCP 600
- United Arab Emirates: Tuesday, December 11 - 2007 at 12:04
- PRESS RELEASE
Union National Bank (UNB) recently organized a series of intensive seminars on 'Uniform Customs and Practices for documentary credit 600' (UCP 600) for its corporate clients dealing with international import/export trade businesses in Abu Dhabi, Dubai and Sharjah.
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Notes and media contacts
About UNBUnion National Bank (UNB) is a public joint stock company incorporated under the laws of the United Arab Emirates in 1982. UNB operates through a network of 47 branches and over 100 ATMs throughout the UAE. UNB is present in the Arab Republic of Egypt through its 94.9% owned subsidiary Alexandria Commercial and Maritime Bank (ACMB) which has 9 branches in Egypt.
UNB has two other subsidiaries. (1) Union Brokerage Company (UBC) which provides brokerage services for customers trading in shares and securities on Abu Dhabi Securities Market and Dubai Financial Market. UBC operates from state of the art offices which are located in Abu Dhabi, Dubai, Al Dhafra, Al Ain and Fujairah. (2) Al Wifaq Finance Company (AWFC) an Islamic Finance Company which offers Shari'a compliant products and services to tap the growing Islamic banking market. UNB is currently establishing a Real Estate company. In addition UNB is considered to be the first bank in the UAE that has a representative office in China.
UNB is the only bank in the UAE which has significant shareholdings by the Governments of both Abu Dhabi and Dubai. The major shareholders of UNB are the Finance Department, Government of Abu Dhabi (40%), Abu Dhabi Investment Council (10%) and the Government of Dubai (10%). The remaining 40% of the shares are held by the general public. The shares of UNB are listed on the Abu Dhabi Securities Market.
UNB has adopted the total quality management concepts and methodologies, quality management systems and a business excellence framework. A strong testament to this was when the Bank won the 2004 / 2005 Sheikh Khalifa Excellence Award, Gold category for the financial sector, and the 2005 Dubai Quality Award.
In 2002, UNB became the first bank of its size in the Middle East to be ISO 9001:2000 (Certified by Lloyds Register of Quality Assurance for Quality Management Systems under the terms set out by the United Kingdom Accreditation Service - UKAS - scheme.) certified across its entire operations in the UAE. The Bank has since received full ISO 9001:2000 recertification in 2005.
For media inquiries, please contact:
Lamia Hariz
Promoseven Weber Shandwick
Tel: 02 4494405
Posted by Medilyn Manibo, Assistant News EditorTuesday, December 11 - 2007 at 12:04 UAE local time (GMT+4)
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