Emirates NBD launches consumer finance firm

by This email address is being protected from spam bots, you need Javascript enabled to view it on Monday, 27 October 2008

CONSUMER FINANCE: Emirates NBD has launched Emirates Money. (Supplied)

Emirates NBD on Monday launched a new consumer finance company that will offer loans to individuals and small and medium sized businesses.

The lender, the Gulf's largest by assets, said Emirates Money Consumer Finance will initially provide non-salary transfer personal loans, business loans and loans for commercial vehicles and construction equipment.

Emirates Money will start operations in Dubai, Abu Dhabi and Sharjah this year, with plans to expand into other parts of the UAE next year, it said.

Story continues below ↓

Emirates Money chairman Jamal bin Ghalaita said in a statement the company will make it easier for individuals and small and medium sized companies to obtain loans.