NBAD inaugurates 1st Business Banking Centre in Ras Al Khaimah

Press release

Published August 12th, 2012 - 07:25 GMT

Haitham Al Refaie, the Head of Business Banking Group at NBAD

The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, has launched its first Business Banking Centre in Ras Al Khaima, in its ongoing strategy to expand its exclusive services to small- and medium-sized enterprises (SME).

The new Business Banking Centre is strategically located in Ras Al Khaimah Free Trade Zone (RAK FTZ) and follows NBAD’s recent launch of Business Banking Centre in Deira, Dubai.

“The new dedicated centre serves as one stop-shop for SME owners. It offers range of financial and banking solutions to meet businesses needs and requirements along with excellent features and benefits,” said Haitham Al Refaie, the Head of Business Banking Group at NBAD.

He added: “The total number of SME accounts in the first quarter of 2012 was 21,146 and this centre will meet the increasing demand for SME banking services through providing more access to our clients.”

The RAK FTZ Business Banking Centre is run by highly qualified team of product specialists and relationship managers who work closely with business owners to provide them with tailored products and services that suit their day-to- day needs such as cash management.

To support SMEs and facilitate their growth, NBAD launched several services for example E-Business Banking, NBAD Visa Business Credit Card, Vehicle Finance and Rent Finance. The Bank also signed a Memorandum of Understanding with various government entities such as Dubai SME, RAK FTZ, Abu Dhabi Chamber of Commerce and Industry and Dubai Chamber of Commerce and Industry. In addition, the Bank administers Khalifa Fund through its partnership with Khalifa Fund for Enterprise Development.

NBAD has opened four Business Banking Centres in Abu Dhabi, four in Dubai, and one each in Al Ain, and Sharjah. The Bank plans to launch four more business banking centres throughout the UAE by the end of 2012.

“NBAD’s Business Banking Centres reflects the Bank’s commitment to play a leading role in the development of SME sector and support entrepreneurs,” say Mr. Al Refaie.