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Wednesday, November 6, 2024
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Adib launches ‘Small Business Financing’ to support SMEs

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Abu Dhabi Islamic Bank (Adib), a leading financial institution, has launched a new product, Small Business Finance (SBF), to support small and medium enterprises (SMEs) in the UAE.

The new product offers a complete financial solution of up to AED 1.5 million (US$ 410 million) to support the short- and long-term goals of SMEs.

Adib’s SBF is designed to provide SMEs in the UAE with customized financial solutions to meet their business objectives. Through a simple and quick application process, businesses will also receive comprehensive benefits including unsecured business financing, working capital financing for local and international purchases or capital expenditure financing for equipment, machinery and automobiles, based on equal monthly installments (EMIs), Flexible tenure, along with expert advice and more benefits, gives every business the makeover it needs.

In line with the UAE’s vision

Commenting on the new product launch, Mohammed Al Salem, Head of Commercial Banking at Adib, said: “SMEs play an important role in shaping the global economy. Adib recognises their importance to the local economy and continues to support them through several initiatives that enable Business owners are able to reach their full potential.

“Our new product is in line with the UAE’s vision as a supporter and contributor to the development of small businesses and reinforces our position as one of the largest Islamic banks, offering a range of commercial banking products to support the needs of businesses.”

Adib’s SBF supports the country’s ongoing efforts to grow the UAE’s business sector, provides complete financing solutions to further help individuals achieve their business goals, and remains committed to supporting the sector’s growth and sustainability. — arab trade news agency


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