NBAD safest bank in Middle East among world’s top 50

Updated 28 August 2013
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NBAD safest bank in Middle East among world’s top 50

Global Finance, a prestigious international financial magazine, has ranked NBAD for the fifth consecutive year among its ‘World’s 50 Safest Banks’.
NBAD remains the highest ranked Middle East bank in the list.
Global Finance’s annual ranking of ‘World’s 50 Safest Banks’ is a recognized and trusted standard of creditworthiness for the entire financial world.
“The continuous inclusion of NBAD among the world’s 50 safest banks reflects our disciplined strategy and ongoing focus on long term, sustainable growth,” says Alex Thursby, group CEO of NBAD.
“NBAD’s continued strong credit ratings complemented by its ranking among the World’s 50 Safest Banks are an invaluable asset that will serve our ambitious growth plans, including our strategy to be a leading player in the West-East Corridor.”
Global Finance selects banks for this list through an evaluation of long-term credit ratings — from Moody’s, Standard & Poor’s, and Fitch — and total assets of the 500 largest banks worldwide.
“This ranking offers companies an objective tool for evaluating the world’s banks, both globally and by region,” says Joseph D. Giarraputo, publisher of Global Finance.
Regarding the top safest banks in the Middle East, in which NBAD ranked highest, Giarraputo says: “Global Finance’s Safest Banks ranking provides an objective tool for benchmarking and analysis of regional banks.”
NBAD’s long term ratings are among the strongest combined ratings of any financial institution in the MENA region with ratings from Moody’s Aa3, Standard & Poor’s (S&P) A+, Fitch AA-, RAM (Malaysia) AAA, R&I’s (Japan) rating of A+, and ranked among the World’s 50 Safest Banks by Global Finance.
“NBAD has retained and strengthened its position in the league of the safest institutions in the world by virtue of the prudence exercised in its business conduct. During the recent global financial crisis, NBAD remained true to its principle of utilizing its strong balance sheet to support customers. NBAD’s financial strength has allowed us to continue doing business and expand throughout the crisis,” says Abdulla M. S. Abdul Raheem, deputy group CEO of NBAD.


Bahri’s maritime solutions on show

Updated 20 February 2019
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Bahri’s maritime solutions on show

Saudi shipping company Bahri is demonstrating its commitment to advancing the growth of maritime industry and improving security in the logistics business at the International Defense Exhibition (IDEX) and Naval Defense and Maritime Security Exhibition (NAVDEX).

The events are being held under the patronage of Sheikh Khalifa bin Zayed Al-Nahyan, president of the UAE and supreme commander of the UAE Armed Forces in Abu Dhabi from Feb.17-21.

Khaled bin Hussain Biyari, assistant minister of defense — executive affairs; General Awwad Eid Al-Balawi, director general of Saudi Arabian Border Guards; and other officials visited Bahri’s booth during the events.

As part of its participation, Bahri is showcasing its maritime capabilities and innovation-driven solutions at the largest defense expo in the Middle East. The company is also highlighting its unmanned surface vessels (USVs) at its booth. Powered by MAP Pro technology, which transforms any vessel into an autonomous one, Bahri’s USVs are capable of numerous applications, including gathering data, surveillance and reconnaissance. In addition, the vessels offer significant cost savings and reduce human workload in high-risk operations. 

Bringing together more than 1,310 specialized companies from 62 countries, both events offer a strategic business platform for exhibitors to present their latest naval, maritime and coastal security technology, equipment and crafts, and explore partnership opportunities with local and international companies. 

Abdullah Aldubaikhi, CEO of Bahri, said: “Events such as IDEX and NAVDEX provide a unique opportunity to gather new insights into new security technologies that can help companies thrive in a safe and secure trade. With Saudi Arabia being at the forefront of efforts aimed at maintaining stability and security in the region, maritime security is a key focus area for the Kingdom.” 

Aldubaikhi added: “Bahri’s presence at IDEX and NAVDEX 2019 is part of our strategy to further strengthen our offerings to enhance the Kingdom’s maritime capabilities and support its transformation as the world’s leading logistics hub. The exhibition also provides us with an excellent platform to connect with our customers and explore new partnership opportunities that will further drive our ambitious expansion plans.”

Bahri Logistics, one of the five business units within Bahri and one of the top 10 breakbulk carriers in the world, operates six new state-of-the-art multipurpose vessels that are capable of carrying different types of cargo, including project, ro-ro, breakbulk, equipment, and container cargo.