Emirates Islamic launches digital business banking package for SMEs

Emirates Islamic launches digital business banking package for SMEs

Dubai - Mubasher: Emirates Islamic Bank has introduced a new digital business banking package to support startups and small and medium-sized enterprises (SMEs).





Under the new package, startups and SMEs will be enabled to open bank accounts with a low minimum balance of just AED 10,000 to continue to have access to banking services without the pressure of maintaining high balances, according to a press release on Tuesday.





This step is part of the bank's commitment to empowering entrepreneurs and SMEs, which represent 94% of the UAE's operating companies and covers more than 86% of the private sector employment.





The Deputy CEO of Consumer Banking and Wealth Management at Emirates Islamic, Wasim Saifi, commented: "We designed our latest package based on the needs of start-ups and SMEs to relieve the stress on their cashflows, helping them focus more time and resources on growing their business."





The head of business banking at the bank, Ghazanfar Naqvi, noted: "The SME sector is a key contributor to the national economy and will boost the UAE's global competitiveness while contributing to increase the non-oil GDP and advancing economic diversification."