Emirates NBD launches the “Business Support Package” to support small and medium-sized companies

Emirates NBD, the leading banking group in the Middle East, North Africa and Turkey, announced the launch of the “Business Support Package”, which includes temporary fee exemptions, with the aim of helping small and medium-sized companies manage their daily operations during the next few months.

This initiative contributes to enhancing the confidence of the business community in light of recent regional developments, and also reflects the continued focus of the UAE leadership on stability, flexibility, and sustainable growth. These measures complement a series of initiatives launched by the Dubai Government and the Central Bank of the United Arab Emirates.

The “Business Support Package” includes:

• Exemption from loan deferment fees

• Exemption from international shipping fees for delivering business cards

• Exemption from returned check fees in the event of an unexpected interruption in cash flows

• Exemption from cash withdrawal fees from ATMs throughout the UAE and GCC countries

• Exemption from business debit card replacement fees

• 30% discount on fees for letters of credit and letters of guarantee

The bank also enhanced its “cash management” packages by including an introductory discount of 40%.

Commenting on the matter, Hamad Mohamed Zayed, Group Head of Business Banking at Emirates NBD, said: “Emirates NBD is pleased to launch the ‘Business Support Package’, confirming its commitment to supporting small and medium enterprises, by providing greater flexibility in times when they are needed most. We continue our commitment to supporting the growth of this sector, while prioritizing the financial health of our customers in light of operational challenges and liquidity pressures. Through this package, we seek to enhance confidence and provide tangible support, at a time when the UAE continues to consolidate “Our banking services remain fully available, seamlessly and with the highest levels of security, reflecting the trust that companies place in us.”

The launch of the “Business Support Package” comes in the wake of the Dubai Government’s approval of an economic incentive package worth one billion dirhams, with the aim of supporting businesses, enhancing the flexibility of the emirate’s economy, raising levels of readiness, and responding quickly to current requirements. The initiative also coincides with the adoption by the Central Bank of the United Arab Emirates of a comprehensive package to enhance the flexibility of financial institutions, in a way that supports the stability and strength of the banking sector in the country in light of regional developments.