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Category: Finance World

Emirates NBD, a leading bank in the region has announced the launch of a new VAT-based enhanced loan solution for small and medium-sized enterprise (SME) customers.

The new loan program makes it easier for SMEs to apply for financing by providing copies of their VAT (Value Added Tax) returns filed with the UAE’s Federal Tax Authority to serve as validation of business turnover and income.

Suvo Sarkar, Senior Executive Vice President, Head of Retail Banking and Wealth Management, Emirates NBD said, “Emirates NBD’s VAT-based loan offering symbolises our commitment to the UAE’s small and medium businesses and supports the objective of Expo 2020 Dubai to foster growth of the SME sector.”

The new program will cover home loan, auto loan and business loan products. Emirates NBD is the leading SME bank in the country offering a wide range of services comprising transaction banking, cash management, payments, lending propositions, guarantees as well as FX and investment products. Emirates NBD is also the Official Banking Partner of Expo 2020 Dubai.

 

Source: Asda’a BCW