The Merchant Banking business of MBA Fakhro represents the spin out of credit sales of our trading business in the Arabian Gulf, from our credit control department to being a trade financier. We provide trade financing to the business, government, and consumer segments of the Arabian Gulf for the products that we represent, as well as for third party products. The current portfolio of products that we represent includes Energy Products (Solar Solutions, Oil & Gas), Technology Products (LED Solutions), and Industrial Products (Industrial Equipment, Industrial Consumables). The brands that we represent include NEC, Samsung, Hitachi, and Unilumin.
We also contribute to the flow of global trade by providing the financial products that facilitate trust and transparency. New initiatives within the Merchant Banking unit of MBA Fakhro include a blockchain Letter of Credit solution that will be available at bank.mbafakhro.com or by downloading the MBA Fakhro app as well as a payment aggregator solution to allow merchants to sell and customers to buy products and services using cryptocurrencies at bank.mbafakhro.com or by downloading the MBA Fakhro app.