First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest financial institutions, has been recognised as the ‘Best Trade Finance Provider in UAE’ at the Bankers Association for Finance and Trade (BAFT) Annual Meeting 2020. FAB received the award at a ceremony in Frankfurt.

The awards recognise finance providers that have delivered excellent trade finance solutions by anticipating evolving trends, helping clients to mitigate risks and to succeed in their international business. FAB delivers bespoke solutions to help clients meet their trade and working capital requirements, increase their supply chain efficiency, mitigate counter party risks, improve working capital, and better manage cash flows and foreign exchange needs associated with trade transactions.

Commenting on the award, Manoj Menon, Head of Global Transaction Banking at First Abu Dhabi Bank, said: “We are delighted to have won this prestigious award and to be recognised as the UAE’s best trade finance provider. It is a testament to the solid transaction banking proposition we have at FAB across Cash Management and Trade, wherein we work closely with our clients in developing bespoke solutions to help them grow stronger.”

Global Finance relies on a multi-tiered assessment process, including input from industry analysts, corporate executives, and technology experts to select the best providers of trade finance. Winners are chosen based on a range of objectives and subjective criteria, including transaction volume, scope of global coverage, customer service, competitive pricing and innovative technologies.

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