Emirates NBD has introduced a Business Support Package for small and medium-sized enterprises (SMEs), offering a series of fee-relief measures to ease operations during a period of regional uncertainty.
The package comprises waivers and discounts across a range of banking services. SMEs will benefit from the waiver of loan deferment fees, international courier charges for business card deliveries, cheque return fees arising from cash flow interruptions, and cash withdrawal fees at ATMs across the UAE and GCC. The bank is also waiving business debit card replacement fees.
Additionally, Emirates NBD is offering a 30 per cent discount on charges for letters of credit and letters of guarantee, and a 40% discount on Cash Management services, the latter of which regularises an existing introductory pricing offer.
Emirates NBD offers fee relief to UAE SMEs amid regional pressures
“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. 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. Our services remain fully operational, seamless and secure, reflecting the trust businesses place in us,” Hamad Mohamed Zayed, Group Head of Business Banking at Emirates NBD said in a statement.
The initiative follows the Dubai Government’s approval of AED1 billion in measures to support businesses and strengthen the emirate’s economic flexibility, raise readiness levels and ensure a response to current requirements.
It also comes alongside the Central Bank of the UAE’s approval of a Financial Institution Resilience Package, designed to reinforce the stability and resilience of the UAE banking sector in light of regional circumstances.
