Emirates Islamic offers preferential pricing on trade guarantees in favour of UAE government entities
Promotional campaign to support SME clients
Dubai, 23 June 2021: Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has introduced preferential pricing on issuance of trade guarantees for its existing small and medium enterprise (SME) clients who are bidding or working on projects related to UAE government institutions and entities.
As the UAE prepares to celebrate its ‘Year of the 50th’ and the opening of Expo Dubai 2020, the promotional campaign which runs till 31 December, 2021 builds on Emirates Islamic’s ongoing commitment towards supporting the UAE’s SME sector, which represents more than 94 percent of the total number of companies operating in the UAE and employs over 86 percent of the private sector workforce according to the Ministry of Economy.
The price relief will help SMEs by reducing their costs of operations. Business Banking clients can benefit for both fixed expiry guarantees and open-ended expiry or auto-renewable guarantees and is applicable to clients placing cash margin for the issuance of the guarantee.
Wasim Saifi, Deputy CEO – Consumer Banking and Wealth Management, Emirates Islamic, said, “As a home-grown Islamic financial institution, supporting the UAE’s SME sector is a top priority for Emirates Islamic. We are delighted to offer preferential pricing to our Business Banking customers who are bidding or working on government contracts to help reduce their costs related to issuance of trade guarantees. The promotion further reflects our commitment to ensuring that Emirates Islamic remains the SME bank of choice for UAE nationals and residents.”