Excellence in leadership in the Middle East 2020: HSBC
Awards for Excellence 2020
HSBC has been central to maintaining imports of vital goods into the region, even while national borders slammed shut.
In the first quarter of 2020, HSBC processed $15.8 billion of trade in the region, with notable surges in the food and healthcare sectors. The bank’s work to maintain and improve its supply chains through remote working has meant that medicine, food and protective equipment has continued to reach those in need.
HSBC responded to the crisis by reducing transaction times: 75% of health care transactions and 83% of food sector transactions are processed in 24 hours. And it did so while ensuring service standards exceeded stipulated customer agreements. The regional head of global liquidity and cash management is Noor Adhami.
Key transactions included providing procurement support for ventilator and medical gas supplies for a temporary treatment centre with 3,000 beds; enabling food distributors to transact digitally to ensure supplies could reach locked-down locations; fast tracking a pharmaceutical company’s supply-chain transactions to ensure production for the next six months; and onboarding a firm to enable it to rapidly start production of N95 masks.