Dubai-based United Arab Shipping Company (UASC) said that it has selected Deutsche Bank to provide advanced cash management solutions in 18 countries across Europe.

UASC is among the largest shipping lines in the Middle East, and one of the leading global lines with 185 offices. The carrier currently operates more than 60 container vessels, including the world’s greenest ultra-large container vessel.

Michael Spiegel, head of trade finance and cash management corporates, Deutsche Bank, said: “We are proud to be selected by UASC as it further reflects our expertise in providing global cash management solutions to our unique client base.”

“It highlights our strong track record delivering leading treasury solutions that empower clients to meet the challenges and complexities of their international operations,” he quoted.

Harold Leenen, head of global transaction banking for Middle East and Africa, Deutsche Bank, said: “We are delighted to receive this mandate from UASC which has recognised our business time and again for its ability to provide innovative and comprehensive solutions to our clients.”

“This is demonstrative of our ability to offer our regional clients local and regional solutions within globally recognised service standards,” he added.

Roderik Flikweert, vice president treasury and investments, UASC, said: “As part of our ambitious global expansion plans and efforts to increase efficiency levels across different functions, we were looking to invest in an advanced cash management framework worldwide in order to strengthen our risk assessment, provide us with better cash control and seamless transactions across the globe”.

“We will implement the new solution in Europe first, with plans to roll-out globally,” he added. – TradeArabia News Service