The Mohammed Bin Rashid Fund (MBRF) of Dubai SME partners with First Abu Dhabi Bank/Supplied
by Kudakwashe MuzoriwaThe Mohammed Bin Rashid Fund (MBRF) of Dubai SME and First Abu Dhabi Bank (FAB) have partnered to launch a new financing programme for Emirati-owned SMEs in Dubai.
In a joint statement, FAB and Dubai SME said that the programme will give Emirati entrepreneurs in Dubai SME access to exclusive benefits allowing them to receive payments through FAB in a quicker and more efficient manner, enabling them to increase their liquidity for further growth and expansion.
Hana Al Rostamani, FAB’s Group Head of Personal Banking, said that the partnership promotes economic development and expansion while also enabling the country to become an entrepreneurial hub.
Under the agreement, FAB will also offer Dubai SME Emirati-owned suppliers with an easy and tailored solution to secure financing against sales invoices.
MOST READ
BUSINESS
COVID-19 poses downside risks to Egyptian banksBUSINESS
Fed rate cuts add pressure on Saudi banksBUSINESS
UAE firms launch Covid-19 economic aid packagesBUSINESS
Saudi Arabia plans to boost oil export to 10...BUSINESS
Aldar to invest AED 2 million in Abu Dhabi...BUSINESS
GCC UHNWIs population to grow by 26 per cent...BUSINESS
ING Groep plans to sell its Turkish unitBUSINESS
Bahrain considers stake sell in oil assetsBUSINESS
SEDCO Capital exits a US real estate investmentBUSINESS
NMC Health hires Moelis for debt restructuringBUSINESS
SABB seeks to boost corporate lending
CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
Loading More post
