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BNP Paribas will make letters of credit more available to its clients in the Gulf as it expands its network of offices and delivery channels in the UAE and the wider region, according to a senior bank executive. The regional director of BNP Paribas in the Gulf Co-operation Council (GCC) countries, Jean-Christophe Durand, says the bank's opening of its new Electronic Banking Unit (EBU) in Jebel Ali Free Zone in Dubai is part of its ongoing expansion in the region.

This first EBU will be part of the bank's Dubai operations, and BNP Paribas says it plans to open two more such units. One will be in Abu Dhabi's fast-growing industrial area of Musaffah, while another unit will open in Dubai, close to Sharjah where a large number of the UAE's smaller businesses are based. "The new units will be primarily focused on corporate banking and trade finance. Currently, Dubai has the largest trade-focused operations in the region. With the opening of the new electronic banking units we plan to be closer to our customers," Durand said.

The EBU at Jebel Ali plans to deliver a range of trade finance services, including L/Cs and cash management solutions, to customers based in Dubai's pioneering free zone. According to the bank, its customer service advisors at the Jebel Ali EBU will help customers by receiving L/C applications as well as applications for drafts for clearing and collection, guarantees and export documents.