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NCB gets $50m credit line from ATFP

ABU DHABI — The Arab Trade Finance Programme (ATFP) has granted Saudi Arabia’s National Commercial Bank (NCB) a credit line of $50 million to be used in financing the kingdom’s foreign trade.

ATFP Executive Director, Dr. Jasim Al Manae, signed the agreement for his outfit, while the chief executive of the NCB, Abdul Karim As’ad Abun Nasr, signed for his side.

This brings the total credit lines granted by the ATFP to Saudi national agencies to nine credit lines at a total amount of $233 million.

meanwhile, the ATFP has also signed here yesterday an agreement with the Union National Bank of Bahrain, granting the latter a credit line of $45 million for the servicing of Bahrain’s foreign trade. This brings to 18 the total credit lines the ATFP granted to Bahraini national agencies at a total amount of $292 million.