National Bank of Fujairah to join EIBOR panel

The EIBOR panel banks has selected The National Bank of Fujairah (NBF) to join the EIBOR panel, starting Oct.8, 2012, following the withdrawal of Barclays Bank from EIBOR fixing process. The EIBOR rates are set by a panel of 12 banks on a daily basis for various tenors by excluding the two highest and the two lowest from the submitted rates and taking the average of the rest. FGB provides an extensive range of specialised services, from trade finance, treasury advisory and project syndication to marine financing. The Bank offers construction, real estate, industrial, agricultural and personal loans, and treasury and foreign exchange services. From gulftoday