Abu Dhabi – Mubasher: National Bank of Abu Dhabi (NBAD) signed an agreement with China State Construction Engineering Corp Middle East (CSCEC) for a fully automated supply chain finance (SCF) programme, according to a statement.
The SCF will allow the Chinese corporate to offer better payment terms to its suppliers as well as enhance its cash flow management.
The programme solutions create a win-win situation for the company and their suppliers.
“Suppliers – mostly SMEs - receive payments faster and directly from the bank. Corporates on the other hand benefit consequently from a healthier supplier community, thereby securing their own supply chain,” NBAD noted.
