DP World Trade Finance, the trade finance business unit of Dubai’s DP World, and the Bank of Bahrain and Kuwait (BBK) recently announced a partnership that aims to integrate logistics and financial services to support businesses in optimizing their supply chain operations.
The strategic collaboration aims to maximize BBK’s global presence in Bahrain, Kuwait, UAE, India and Turkey. Moreover, it seeks to offer trade finance solutions to businesses globally, reflecting the bank’s commitment to innovation and excellence in financing solutions.
“Partnering with BBK aligns with our mission to bridge the ever-increasing trade finance gap, which inhibits the growth of business around the world,” stated Sinan Ozcan, senior executive officer and board member of DP World Trade Finance.
Seamless financial solutions
The partnership will leverage BBK’s robust banking solutions and DP World Trade Finance’s ability to provide transparency and visibility on any underlying transaction that uses DP World’s ecosystem and extensive logistics network, offering seamless financial solutions and operational efficiencies for businesses across the region.
“The partnership will help BBK leverage DP World’s end-to-end supply chain capabilities to get visibility and transparency on the underlying trade,” added Ozcan.
Navigating regional and global trade
By integrating logistics and financial services, the partnership aims to drive growth, improve operational efficiency, and provide comprehensive support to businesses navigating the complexities of regional and global trade.
In addition, it underscores BBK’s ongoing efforts to foster collaborations that drive innovation and growth. It also ensures that clients benefit from greater services and easier operations. BBK and DP World Trade Finance both reiterated their commitment to leveraging their expertise and networks to deliver cutting-edge solutions that meet the dynamic needs of their customers.
“This collaboration significantly enhances our international and regional offerings, providing our current and future clients with seamless trade solutions that will positively impact their businesses,” stated Salman Al Hassan, general manager of international banking and overseas branches at BBK.
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