Post by : Badri Ariffin

Dubai: Emirates NBD has launched a Business Support Package designed to alleviate the financial challenges facing small and medium-sized enterprises (SMEs) throughout the UAE. This initiative provides a variety of temporary fee waivers and discounts to assist businesses in ensuring effective day-to-day operations as they navigate upcoming months.

This strategic move coincides with ongoing regional economic conditions that have compelled businesses to prioritize liquidity and operational efficiency. The package complements the broader initiatives set forth by the Dubai Government and the UAE Central Bank to promote economic resilience and ensure business continuity.

SME Benefits

As part of this support framework, Emirates NBD is offering an array of cost-effective measures, including:

• Waiver of fees for loan deferment

• Complimentary international courier delivery for business cards

• Waived cheque return fees related to cash flow shortages

• Free cash withdrawals at ATMs throughout the UAE and GCC

• No charges for replacing business debit cards

• 30% discount on letters of credit and guarantees

Moreover, the bank is offering a 40% discount on Cash Management services, expanding its initial pricing to deliver more relief to businesses.

Boosting Business Confidence

Hamad Mohamed Zayed, Group Head of Business Banking at Emirates NBD, emphasized that this initiative showcases the bank’s unwavering support for SMEs during tough times.

He remarked that the package aims to grant businesses enhanced financial flexibility, reduce operational expenditures, and foster confidence as the UAE continues to be a competitive player in the global market.

Complementing National Economic Strategies

This announcement follows the Dubai Government’s endorsement of a AED 1 billion economic support package aimed at enhancing flexibility and preparedness in the economy. It also aligns with the Central Bank’s Financial Institution Resilience Package, which focuses on sustaining stability within the banking sector.

Through this initiative, Emirates NBD strengthens its position as a vital partner for SMEs, providing essential financial aid while maintaining seamless and secure banking services. This effort is anticipated to help businesses address immediate challenges and promote long-term growth.

#world news #Global News #UAE News #Emirates