Mena News

FAB launches its first supply chain finance programme in Saudi Arabia

First Abu Dhabi Bank (FAB) has set up a supply chain finance (SCF) programme for Saudi Arabia-headquartered appliance and electronics manufacturer Alfanar, marking the …

Mena / 30-05-23 / by Eleanor Wragg

Trafigura wins facility from Abu Dhabi for UAE exports

Trafigura has secured a lending facility from the Abu Dhabi Exports Office (Adex), the latest in a string of financing deals the trader has …

Mena / 07-03-23 / by Jacob Atkins

Japanese, European banks extend US$501mn for Egypt wind project

The developers of a wind farm in Egypt have secured a US$501mn export credit agency-backed financing deal from a consortium of lenders. Red Sea …

Mena / 06-03-23 / by Jacob Atkins

ITFC grants trade finance facility for Tunisia imports

The International Islamic Trade Finance Corporation (ITFC) has provided a US$280mn trade finance facility to the government of Tunisia for the import of gas, …

Mena / 06-03-23 / by Jacob Atkins

Trade finance fund manager wins US$18.6mn judgement against coal mine supplier

A UAE mining supplier and its directors are appealing a judgement ordering them to pay a trade finance fund manager US$18.6mn after failing to …

Mena / 16-01-23 / by Jacob Atkins

Olam Agri eyes first-of-its-kind Saudi listing

Commodities giant Olam Group is considering dual-listing its agriculture business in Singapore and Saudi Arabia, with plans for an initial public offering (IPO) as …

Mena / 10-01-23 / by John Basquill

UK joins Morocco infrastructure gold rush with £4bn in export support

UK Export Finance (UKEF) has unveiled £4bn of support for UK exports to Morocco, as it seeks to galvanise new opportunities for British businesses …

Mena / 23-11-22 / by Eleanor Wragg

Mena trade finance faces “unique” criminal risks, report warns

Banks providing trade finance products, including standby and back-to-back letters of credit (LCs), are exposed to unique financial crime risks in the Middle East …

Mena / 26-10-22 / by John Basquill

Westford sues insurer over disputed Phoenix trades

Westford Trade Services is suing Dubai Insurance Co over losses involving disgraced commodities trader Phoenix, with the insurer arguing there is no evidence the …

Mena / 05-10-22 / by John Basquill

Saudi Electricity Company lands ECA-backed finance for Egypt electricity interconnection

Saudi Electricity Company has signed a US$566.4mn export credit agency (ECA)-backed facility agreement with Standard Chartered Bank and Sumitomo Mitsui Banking Corporation to support …

Mena / 28-09-22 / by Eleanor Wragg