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Trade finance need to rise in the UAE

Demand for trade financing is expected to rise as the Gulf economies develop their non-oil exports. In the UAE, for example, a November 2010 survey of HSBC customers found that around half of small businesses said they expected their need for trade finance to increase as they relied more heavily on banks to finance their export and import activity and receivables.

The bank said that its own trade financing activity on exports was up 75 per cent in the country, adding that a $100m fund established for small customers’ trade finance needs, was more than 70 per cent drawn.

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