The Emirates NBD, a leading banking group in the Middle East, North Africa, and Turkey, has announced the launch of a “Business Support Package” designed to provide temporary fee waivers to assist small and medium-sized enterprises in managing their daily operations over the coming months. This initiative is intended to bolster confidence within the business community in light of recent regional developments, while also reflecting the UAE leadership’s ongoing commitment to stability, resilience, and sustainable growth. The measures complement a range of initiatives introduced by the Dubai government and the Central Bank of the UAE.
The “Business Support Package” includes a waiver of loan deferment fees, exemptions from international shipping fees for delivering business cards, waivers for returned check fees due to unexpected cash flow interruptions, exemption from cash withdrawal fees at ATMs across the UAE and GCC countries, waivers for replacing business debit cards, and a 30% discount on letter of credit and bank guarantee fees.
Additionally, the bank has enhanced its cash management offerings by introducing a preliminary discount of 40%.
Flexibility
Hamad Mohammed Zayed, Head of Business Banking Services at Emirates NBD, stated, “We are pleased to announce the launch of the ‘Business Support Package’ as a demonstration of our commitment to supporting small and medium businesses by providing greater flexibility when it is most needed. We continue to prioritize the financial wellbeing of our clients amidst operational challenges and liquidity pressures. Through this package, we aim to strengthen confidence and provide tangible support as the UAE solidifies its position as a competitive global economy. Our banking services remain fully operational, seamless, and secure, reflecting the trust businesses place in us.”
The introduction of the “Business Support Package” follows the Dubai government’s approval of a 1 billion AED economic stimulus package aimed at bolstering businesses and enhancing the emirate’s economic resilience, as well as improving readiness and rapid response to current demands. This initiative coincides with the Central Bank of the UAE’s comprehensive measures to reinforce the stability and strength of the banking sector in light of regional developments.