National Bank of Fujairah stands ready for resumed Iran trade | The National

National Bank of Fujairah stands ready for resumed Iran trade | The National:



"National Bank of Fujairah (NBF) expects a boost to its business if sanctions against Iran continue to ease after a thaw in ties with the West last year.



The trade finance lender is among a handful of such specialist banks in the UAE that would get a big chunk of business from trade flows with Iran should the Islamic state return to the fold of the global economy, said Vince Cook, NBF’s chief executive.



Iran suspended part of its nuclear development work in January. The United States and Europe responded by temporarily lifting some of the sanctions that have buckled Iran’s economy in recent years – although these were still limited to a handful of industries, such as car parts and petrochemicals."



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