Emirates NBD, one of the leading banks in the UAE and the official banking partner for Expo 2020 Dubai, today announced a customized Expo 2020 Dubai business banking package for the small and medium enterprises (SMEs) and startup companies in the UAE.
All business entities that are registered on the Expo 2020 Dubai Online Marketplace can have Emirates NBD’s Expo 2020 Dubai Account.
Expo 2020 Dubai Online Marketplace is a powerful online platform that allows companies to find new opportunities globally, market their businesses and associate with the World Expo and its network of partners and suppliers.
This package involves favorable pricing and privileges on transactions, trade finance, working capital, FX and commercial loans aimed to support the growth and development of companies registered to do business with Expo 2020 Dubai.
Abdulla Qassem, Group Chief Operating Officer, Emirates NBD, said: “As the Official Banking Partner for Expo 2020 Dubai, Emirates NBD has a shared commitment to supporting SMEs and startups. Our new business banking package is designed to support these businesses in leveraging the opportunities presented by this mega-event, in line with the three key subthemes of the event: Opportunity, Mobility and Sustainability.”
Emirates NBD Expo 2020 Dubai Account instills a variety of advantages for business entities such as there will be no minimum average monthly fees for the first year; the lowest minimum average balance requirements is just AED 10,000; preferential pricing for banking transactions, FX and telegraphic transfers (TT); the Trade Finance support will be provided for short term financing requirements; working capital support and commercial loans at appealing terms; POS (point of sale) and e-commerce solutions will be facilitated via Network international which is the pioneer in payment solutions in the Middle East and Africa and is the official Merchant Acquirer Partner of Expo 2020 Dubai.
Mukhtar Safi, CFO, Expo 2020 Dubai, said: “In collaboration with our partners, we are committed to empowering companies of all sizes to take advantage of the many commercial opportunities offered by a World Expo. SMEs are playing an essential role in the delivery of Expo 2020, so we are delighted that Emirates NBD has created this innovative product, which will enable UAE-based firms registered on the Online Marketplace to benefit from preferential banking options.”
“Our objective is to allocate 20 percent of Expo 2020’s direct and indirect spend to SMEs because these companies form the backbone of any economy. The Expo 2020 Dubai Online Marketplace will contribute to the World Expo’s long-term economic impact, helping to further strengthen the UAE’s position as a global commerce hub,” he added.
There are more than 200 participants including countries, corporations, educational institutions, multilateral organizations that will be taking part in Expo 2020 Dubai. The Online Marketplace offers an incredible opportunity for all types of businesses to showcase their expertise and products to Expo, its participants, partners, licensees, major contractors and other registered companies operating worldwide.
Emirates NBD’s announcement today is in line with the strategic commitment of offering value-added services and products that help to grow the young businesses in the UAE. Emirates NBD will provide the key financing support and advisory to the SMEs and startups that are contributing to the UAE economy and help them greatly by enhancing their business growth.