Dubai-UAE: 22 February, 2015 - Noor Trade, the innovative Shari'a compliant banking service for small and medium enterprises from Noor Bank, has opened its third branch at the Noor Takaful Building (opposite Noor Bank Metro station), on Dubai's Sheikh Zayed Road. The branch will enable Noor Trade to serve small and medium enterprises operating in commercial zones such as Al Quoz and the adjoining business centres.

Usman Khakwani, Head of Business Banking, Noor Trade said: "Noor Trade is a strong player in the SME sector. We have seen rapid growth in our SME client portfolio in the past 12 months and our new branch will enable us to increase business volumes by meeting the growing demand for Shari'a compliant finance from the vibrant SME communities in Al Quoz and along Sheikh Zayed Road.

"Access to finance is the single largest issue that many SMEs face. Noor Trade differentiates its offerings with the most comprehensive set of Shari'a compliant products, and offers enhanced services that are of great convenience - living up to its core promise of Noor 'Gets It Done."

Noor Trade launched a brand new campaign in January, which coincided with the anniversary month of the bank. The campaign will see Noor Trade introduce several new initiatives in a bid to increase brand visibility and create consumer awareness of its capabilities.

Noor Trade clients have access to fully Shari'a compliant financial services, including cash management, trade, and working capital solutions, along with consumer, treasury and takaful products packaged at preferential rates based on eligibility criteria.

Single window delivery bundled with a broad range of packaged solutions that Noor Bank offers differentiates it from other banks in the market.

Noor Trade, which has branches in Almas Tower, home of the DMCC (Dubai Multi Commodities Centre­) and in Baniyas Square in Deira, was launched in 2013, with the aim of supporting the UAE's thriving SME sector which makes up 95 per cent of all businesses in Dubai and accounts for 60 per cent of the UAE's GDP. At the launch, Noor Bank announced it was targeting AED5 billion of lending to SMEs by 2018.

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About Noor Bank
Noor Bank began operations, in Dubai, in 2008, as Noor Islamic Bank. It is a full service bank delivering the broadest range of products for its customers, with an emphasis on unique and personalised services. Noor Bank's products and services are governed by a sharia board, comprising leading Islamic scholars with extensive experience and expertise in legal, financial and banking-related matters. Noor Bank is 95% owned by Noor Investment Group and 5% by Emirates Investment Authority.  Noor Investment Group is 50% owned by Dubai government related entities, 50% by prominent individuals and members of the UAE ruling families. For further details, please visit: www.noorbank.com or call 800 6667. 

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© Press Release 2015