Abu Dhabi - The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, has launched NBAD Visa Business Credit Cards, its first credit card exclusively for small- and medium-sized enterprises (SME).
The new card has been tailored specifically with a host of outstanding and 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 AlRefaie, the 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 US$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 AED20,000 to AED500,000.
"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," Mr. AlRefaie 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 centers in Abu Dhabi's Industrial City (ICAD) and Al Ain, with plans to open more. It also became administrator of Khalifa Fund and signed a memorandum of understanding (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.
"Enabling SMEs to invest in their business contributes to a healthy market generally, benefits all players. Abu Dhabi's ambitious development plan envisions a special role for SMEs in the Emirate's progress. NBAD in its commitment to support Abu Dhabi Vision 2030 continues to advance the objectives and goals of this blueprint, such as SMEs," Mr. AlRefaie says.
-Ends-
About NBAD
The National Bank of Abu Dhabi (NBAD), The Number One Bank in UAE, was incorporated in 1968 and is listed on the Abu Dhabi Securities Exchange (ADX), under stock code (NBAD).
Ranked as one of the top 50 safest banks in the world, NBAD currently operates across 13 countries on four continents.
NBAD has a network of 113 branches, cash offices, and more than 440 ATMs to provide banking services to customers all over the UAE.
Besides brick & mortar branches, NBAD provides 24 hour internet banking access through NbadOnline and NbadDirect, the SMS-based payment service (Arrow) as well as account access and personalised customer support through its 24-hour Call Centre.
NBAD's overseas network stretches from Oman, Kuwait, and Bahrain in the G.C.C.; Egypt, Libya, and Sudan in Africa; UK, France, and Switzerland in Europe; Hong Kong and Jordan in Asia to Washington, D.C. in the U.S.A. Overall, NBAD has nearly 50 branches and 60 ATMs outside the UAE.
NBAD provides its customers with a wide variety of financial services targeting all segments of the consumer and corporate markets.
NBAD is rated senior long term/short term A+/A-1 by Standard and Poor's, Aa3/P1 by Moodys and AA-/F1+ by Fitch giving it one of the strongest combined rating of any Middle Eastern financial institution.
For further enquires, please contact:
Ehab Khairi
Media & PR Manager
National Bank of Abu Dhabi
Tel: +97126111190
Email: ehab.khairi@nbad.com
Web: www.nbad.com
© Press Release 2011
