Middle East’s best bank for transaction services 2022: Citi
Citi’s commitment to its customers, to innovation and to unveiling new products that adapt to the shifting needs and expectations of corporates and regulators put it easily ahead of its rivals this year.
The US bank is a rare example of a big financial institution that knows how to innovate at scale. It is undeniably the region’s leading provider of supply-chain finance solutions, with 44 programmes in seven countries, supporting around 700 suppliers. Building on its platform, it unveiled its first range of sustainable supply-chain financing services in 2021.
“What we have seen over the past two and a half years, is that working-capital finance is not just a nice option to have but a critical requirement for corporates, which also addresses key performance indicators like ESG [environmental, social and governance],” says Yusuf Ali Khan, head of trade and working capital solutions for the Middle East, north Africa and Pakistan.
Citi also extended its Electronic Trade Loans platform last year to 71 countries; the expanded list now includes Egypt, Israel, Jordan, Lebanon and the UAE, enabling rapid and digital access to loans to facilitate global trade and manage working capital.