Preferential business banking to be offered as part of Expo 2020's Dubai Online Marketplace
Emirates NBD has launched an Expo 2020 Dubai business banking package for UAE-based small and medium enterprises (SMEs) and startups.
The Emirates NBD Expo 2020 Dubai Account is available for all entities registered on the Expo 2020 Dubai Online Marketplace (OMP) and includes preferential pricing and privileges on transactions, working capital, trade finance, FX and commercial loans, aimed at supporting the growth and development of companies registered to do business with Expo 2020 Dubai.
Abdulla Qassem, Group Chief Operating Officer, Emirates NBD, said: “As the Official Banking Partner for Expo 2020 Dubai, Emirates NBD has a shared commitment to supporting SMEs and startups. Our new business banking package is designed to support these businesses (SMEs and startups) in leveraging the opportunities presented by this mega-event, in line with the three key subthemes of the event: Opportunity, Mobility and Sustainability.”
Organisers of Expo 2020 have set a goal of awarding 20 percent of the value of all contracts to SMEs. In March this year, Tina Ghanem, director of Expo 2020’s OMP, revealed that there were over 26,000 registered suppliers from 150 countries wanting to do business with Expo – 75 percent of which were actual SMEs.
Mukhtar Safi, CFO, Expo 2020 Dubai, said: “SMEs are playing an essential role in the delivery of Expo 2020, so we are delighted that Emirates NBD has created this innovative product, which will enable UAE-based firms registered on the Online Marketplace to benefit from preferential banking options.”For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.