National Bank of Kuwait has been named the best foreign exchange provider in the Middle East by Global Finance (GF) magazine.

GF has listed the World’s Best Foreign Exchange banks and providers by country, region and category in an exclusive survey to be published in the January 2014 issue.

Deutsche Bank was declared the global winner.

Global Finance editors – with input from industry analysts, corporate executives and technology experts – also selected the best currency trading providers in 97 countries or regions.

The best online foreign exchange systems were also identified. Criteria for choosing the traditional and online winners included transaction volume, market share, scope of global coverage, customer service, competitive pricing and innovative technologies.

“Corporations operating in today’s global markets need the advice, tools and services of a trusted foreign exchange provider,” says Joseph D Giarraputo, publisher and editorial director of Global Finance.

“The $5.3 trillion-a-day FX market is undergoing rapid changes as a result of technology and new regulations. We have identified the banks and systems that corporations can rely on to manage their FX exposure in every-changing markets worldwide,” he added.

Deutsche Bank claimed the global top rank, while Ahli United Bank (Bahrain), BankMuscat (Oman), Qatar National Bank (Qatar), Samba Financial Group (Saudi Arabia) and Emirates NBD (UAE) were named among country winners. – TradeArabia News Service