Press Release Reference Number: MBA20220410

Title: Merchant Banking Unit Launched

Date: 10 April 2022

MBA Fakhro has announced the launch of its Merchant Banking unit. The Merchant Banking unit of MBA Fakhro evolved from a trading business that was involved in the purchase of products from overseas suppliers and their supply to business, consumer, and government clients in the Arabian Gulf. In its reincarnation, the Trading business is now the Merchant Banking unit, and provides trade financing to business and government clients in the Arabian Gulf for the products that it represents, as well as for third party products. The products that it represents include Energy Products (Oil & Gas, Solar), Industrial Products, and Technology Products (Commercial LEDs, etc.). The brands that it represents include Hitachi, NEC, Unilumin, and Samsung. The Merchant Banking unit is also working on a number of innovative blockchain related products, including one that allows companies to do letters of credit through MBA Fakhro using the proprietary software developed by the R&D labs of the company.