National Bank of Fujairah Seeks Approval to Trade Commodities

Sept. 5 (Bloomberg) -- National Bank of Fujairah PSC, a state-controlled lender in the United Arab Emirates, plans to begin trading base metals, energy, agriculture and carbon-offset products in both physical and derivative markets.

The bank has called an extraordinary general meeting of shareholders on Sept. 29 to approve an amendment to its articles of association to allow the change, it said in a statement to the Abu Dhabi bourse today. Its current articles of association allowed it to trade only gold, silver and other precious metals.

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To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net