Emirates Development Bank Reaffirms Support For UAE SMEs

Emirates Development Bank ("EDB" or "the Bank") today highlighted its dedication to Small and Medium Enterprises (SMEs) and business owners-- the engine space of the UAE economy.

Through its workplaces in Abu Dhabi and Dubai, Emirates Development Bank offers people with a mix of expert company and monetary guidance, with items designed particularly to help local business owners and companies.

Products being established for local companies consist of an SME business loan, business accounts and strategic sector finance for certifying customers.
Emirates Development Bank is dedicated to assisting SMEs get rid of obstacles which might stop their development. Emirates Development Bank's support is available for companies owned and managed by UAE Nationals, with the branches offering a group of seasoned specialists and an 'incubation' environment where budding magnate can ideal their suggested ideas. This consists of high-tech, private meeting rooms, accessible to disabled people, where Emirates Development Bank employees can provide confidential and custom recommendations to UAE business owners.

Rashid Mahboob, Acting CEO of Emirates Development Bank said: "Comprising of around 300,000 business and accounting for 86 percent of the workforce in the private sector, SMEs play a crucial role in the UAE economy. With more tough economic conditions, it has never been more vital to support this sector, which is so important to the future development and prosperity of our country.
"We want to send out a clear message to SMEs and entrepreneurs that our door is open and we are here to help with expert guidance and available finance.".

Established in 2011 under a decree provided by the President of the UAE, HH Sheikh Khalifa bin Zayed Al Nahyan, EDB's vision is to help develop a national economy identified by diversity that is based upon development and permits people' access to suitable lodging by providing financing at cost effective economic expense. The bank offers assistance, financing and ingenious banking options to achieve sustainable advancement of little and medium sized companies.

EDB will also partner with the Government on strategic development tasks, many of which are expected to have national significance for the future of the UAE. Health care, manufacturing, ICT and construction are all essential areas of the UAE economy in which EDB can contribute by providing important financing.