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Posted on: Monday 10 June, 2019 3:33 pm
Emirates NBD rolls out preferential business banking for UAE SMEs, startups on Expo 2020 Dubai Online Marketplace
  • Abdulla Qassem, Group Chief Operating Officer, Emirates NBD Abdulla Qassem, Group Chief Operating Officer, Emirates NBD
  • Mukhtar Safi, CFO, Expo 2020 Mukhtar Safi, CFO, Expo 2020
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Emirates NBD, a leading bank in the region and the Official Banking Partner for Expo 2020 Dubai, today announced a customised Expo 2020 Dubai business banking package for UAE-based small and medium enterprises (SMEs) and startups.  

Emirates NBD's Expo 2020 Dubai Account is available for all entities registered on the Expo 2020 Dubai Online Marketplace – a powerful online gateway that enables companies to find new opportunities globally, market their businesses, and collaborate with the World Expo and its network of partners and suppliers.

The competitive package includes preferential pricing and privileges on transactions, working capital, trade finance, FX and commercial loans, aimed at supporting 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's Expo 2020 Dubai Account includes:

  • No minimum average monthly fees for the first 12 months
  • One of the lowest minimum average balance requirements in UAE of AED 10,000
  • Preferential pricing for banking transactions, FX and telegraphic transfers (TT)
  • Trade Finance support for short term financing requirements
  • Working capital support and commercial loans at attractive terms
  • POS (point of sale) and ecommerce solutions via Network International, the leading payment solutions company in the Middle East and Africa and 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 per cent 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.”

More than 200 participants, including countries, corporations, multilateral organisations and educational institutions, will participate in Expo 2020. The Online Marketplace offers a free opportunity for businesses of all sizes to showcase their expertise and products to Expo, its participants, partners, licensees and major contractors, as well as other registered companies all over the world.

The announcement today from Emirates NBD is aligned to its strategic commitment of offering value-added products and services to further the growth of young businesses in the UAE. As a leading local bank, Emirates NBD has championed collaboration with homegrown SME and startups that contribute to the UAE economy, providing key financing support and advisory to enhance their business growth and safeguard their economic well-being.

Emirates NBD is a market leader in innovative and digital banking solutions, and its Premier Partnership with Expo 2020 Dubai reflects a shared commitment to the event’s key subthemes of Opportunity, Mobility and Sustainability. As a Premier Partner and the Official Banking Partner for of Expo 2020 Dubai, Emirates NBD will offer a range of innovative financial products and services to visitors, participants and organisers of the global event.

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