NBAD launches credit card for SMEs
Abu Dhabi, April 12, 2011
The National Bank of Abu Dhabi (NBAD), the leading bank in the UAE, has launched its first credit card exclusively for small- and medium-sized enterprises (SME).
The new NBAD Visa Business Credit Card has been tailored specifically with a host of unique benefits to meet the business needs of SMEs.
“Small- and medium-sized enterprises are a critical component of the nation’s economy and its engine of growth,” said Haitham Al Refaie, head of Business Banking Group at NBAD.
“This is why NBAD has accelerated delivering services and products to this segment because it allows us to grow our business and at the same time help this segment increase its contribution to the national economy.”
The NBAD Visa Business Card has no annual fee and its other special features include up to 50 days interest-fee grace period, travel insurance up to $150,000, pre-set limits on individual cards, access to cash, consolidated payments as well as special offers and discounts. The card can offer credit limit from Dh20,000 to Dh500,000.
“NBAD understands the needs of SMEs and this card was specifically tailored to address their needs to allow each cardholder operate the business smoothly and grow it,” Al Refaie said.
In the last three months, NBAD’s Business Banking Group has initiated several programmes and services aimed for the SME sector. The bank began its e-Business Banking Services and launched dedicated business banking centres in Abu Dhabi’s Industrial City (ICAD) and Al Ain, with plans to open more.
NBAD also became administrator of Khalifa Fund and signed a MoU with Mohammed Bin Rashid Establishment for SME Development (MBRE), which provides for the two organisations to collaborate and cooperate on extending services to SMEs.-TradeArabia News Service
More Finance & Capital Market Stories
- Saudi IPO subscriptions plunge 53pc in Q1
- UAB, Al Ansari partner for payment solution
- Nexus launches Kuwait operations
- Tunisia may delay sukuk issue to next year
- Al Baraka Turk planning $200m sukuk
- Kuwait April inflation climbs to 2.8pc y/y
- Bahrain Islamic Bank names new chairman
- Oman 'must consider fiscal reforms as priority'
- Qatar Exchange to start trading govt bonds
- NBK opens new branch in UAE