Emirates NBD has launched a temporary support package aimed at assisting small and medium-sized enterprises in managing costs and cash flow amid current regional economic challenges.
The Dubai-based lender’s initiative is significant as it provides essential relief measures during a time of operational pressures for many businesses.
The support measures include the waiving of loan deferment fees, removal of international courier charges for business card deliveries, and waiving cheque return fees that arise from cash flow disruptions.
The package also offers free cash withdrawals at ATMs across the UAE and GCC, removal of fees for business debit card replacements, and a 30% discount on letters of credit and guarantee charges.
A noteworthy enhancement includes a 40% discount on cash management services, which extends a prior introductory pricing offer.
Hamad Mohamed Zayed, Group Head of Business Banking at Emirates NBD, commented: “Emirates NBD is pleased to introduce the Business Support Package reinforcing Emirates NBD’s commitment to supporting SMEs by offering them greater flexibility at a time when it matters most.
According to the group head of business banking at Emirates NBD, the objective of this package is to provide SMEs with increased flexibility during a period marked by liquidity challenges. The bank remains committed to supporting its customers, ensuring financial stability while maintaining full service operations.
This initiative follows broader economic strategies across the UAE, including the recent approval of AED 1B in economic support measures by the Dubai Government to enhance business resilience.
The CBUAE has implemented a Financial Institution Resilience Package to bolster stability within the banking sector. Collectively, these actions signal an ongoing commitment to sustaining economic momentum and supporting businesses navigating a dynamic regional landscape.
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