Emirates NBD launches business support package for SMEs

Emirates NBD has unveiled a business support package that consists of a set of temporary fee-relief measures to help SMEs manage day-to-day operations over the next few months.

The support package will offer SMEes "greater flexibility at a time when it matters most", said Hamad Mohamed Zayed, Group Head of Business Banking at Emirates NBD.

"We remain committed to the growth of the sector and to prioritising the financial wellbeing of our customers amidst operational challenges and liquidity pressures.

"Through the package, we aim to build confidence and provide meaningful support as the UAE continues to consolidate its position as a global competitive economy."

What the package offers:

• Waiver of loan deferment fees
• Waiver of international courier charges for business card deliveries
• Waiver of cheque return fee due to unforeseen cash flow interruption
• Waiver of cash withdrawal fees at ATMs across the UAE and GCC
• Waiver of business debit card replacement fee
• Discount of 30 per cent on charges for letter of credit and letter of guarantees

The bank will also offer 40 per cent discount on cash management services, regularising the introductory pricing offer.

The measures follows the Dubai Government’s approval of AED 1 billion in economic facilitation measures to support businesses and strengthen the emirate’s economic flexibility, raise readiness levels and ensure a swift response to current requirements.

It also comes alongside the Central Bank of the UAE’s approval of a comprehensive Financial Institution Resilience Package, designed to reinforce the stability and resilience of the UAE banking sector in light of regional circumstances.