Dubai, UAE: DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise has announced an agreement with Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Turkey) region to offer existing and new DMCC member companies the opportunity to spread out payments for DMCC services over multiple instalments using their credit cards at a 0% interest rate. 

The instalment plan offers existing and new members the flexibility to convert DMCC payments for company set-up, renewal or any other service-related fees into three, six or 12-month instalment plans with no interest charges. The service is available for DMCC customers when using any Emirates NBD credit card issued to individuals or corporates, with a minimum payment of AED 500.

The partnership offers over 17,500 DMCC member companies the benefits of making ongoing routine payments conveniently, providing liquidity and financial flexibility. The offer will also assist new companies to make setup related payments in a more manageable way and at no additional cost. Customers using individually issued credit cards can conveniently convert their payments by using the Mobile App or Online Banking as well as through push and SMS messaging while corporate cardholders can get in touch with their relationship manager or contact the bank’s call centre to request for the same.

Ahmad Hamza, Executive Director - Free Zone, DMCC, said: “Supporting our business community throughout the past few months has been our top priority, and will remain so as we enter this new phase of reopening and recovery. Our partnership with Emirates NBD, alongside the extended and enhanced DMCC Business Support Package, is set to boost Dubai’s economic resilience at this critical time and ensure that the Emirate remains the chosen place for doing business in the coming months and years. We are confident that through collaboration and cooperation, we will emerge from this stronger and overcome the current period while maintaining a robust economy.” 

Suvo Sarkar, Senior Executive Vice President, Head of Retail Banking and Wealth Management, Emirates NBD, added: “Emirates NBD is committed to supporting initiatives that enhance the ease of doing business in the UAE. We are delighted to partner with DMCC to offer this program that will provide increased convenience and flexibility to our customers in managing their business. This is part of a range of measures that we have put in place for SME and individual customers to provide financial relief and support during this time.” 

The new instalment plan comes after DMCC rolled out its largest ever commercial campaign, the Business Support Package in March to support new and existing member companies navigate the challenges posed by COVID-19. In light of the strong appetite and positive reactions from the market, DMCC extended and expanded the package until the end of August.

Further information on the payment plan offered by Emirates NBD can be found here.

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About DMCC

Headquartered in Dubai, DMCC is the world’s most interconnected Free Zone, and the leading trade and enterprise hub for commodities. Whether developing vibrant neighbourhoods with world-class property like Jumeirah Lakes Towers and the much-anticipated Uptown Dubai, or delivering high performance business services, DMCC provides everything its dynamic community needs to live, work and thrive. Made for Trade, DMCC is proud to sustain and grow Dubai’s position as the place to be for global trade today and long into the future. www.dmcc.ae 

About Emirates NBD

Emirates NBD (DFM: Emirates NBD) is a leading Banking Group in the MENAT region. As at 30th June 2020, total assets were AED 694 Billion, (equivalent to approx. USD 189 Billion). The acquisition of DenizBank represents a significant milestone for Emirates NBD with the Bank expanding its presence to 13 countries, servicing over 14 million customers. The Bank is ranked among the top 20 in the Forbes’ list of the World’s Best Regarded Companies, securing a leading spot among global brands.

The Bank has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry with 94% of all financial transactions and requests conducted outside of its branches. The Bank announced the creation of E20., a digital business bank for entrepreneurs and SMEs while Liv., the lifestyle digital bank for millennials continued to be the fastest growing retail proposition in the UAE. Emirates NBD was named “UAE’s Best Bank” in 2020 for a fifth consecutive year by Euromoney. In addition, Emirates NBD received the “Excellence in Leadership in the Middle East” award, introduced this year in light of the Covid-19 impact, as a recognition of its efforts in responding to the Covid-19 crisis.

The Bank has operations in the UAE, Egypt, Turkey, the Kingdom of Saudi Arabia, India, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 944 branches and 4,262 ATMs / SDMs. The Bank has a large social media following, being the only bank in the Middle East ranked among the top 20 in the ‘Power 100 Social Media Rankings’, compiled by The Financial Brand for 2019. Emirates NBD is a major player in the UAE corporate segment and has strong Islamic banking, investment banking, private banking, asset management, global markets & treasury and brokerage operations.

Emirates NBD is an active participant and supporter of the UAE’s main development and community initiatives, in close alignment with the UAE government’s strategies, including financial literacy and advocacy for inclusion of People with Disabilities under its #TogetherLimitless platform. The Bank is recognised for the pioneering efforts in employee volunteering and corporate social responsibility by IMPACT2030, the corporate volunteering arm of the United Nations. Emirates NBD Group is a Premier Partner and the Official Banking Partner for Expo 2020 Dubai.

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