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21 November 2019
BUSINESS

The Mohammed Bin Rashid Fund partners with FAB to finance SMEs

The programme will offer Emirati entrepreneurs with preferential rates as well as a wide array of First Abu Dhabi Bank’s suite of business banking products and services.

The Mohammed Bin Rashid Fund (MBRF) of Dubai SME partners with First Abu Dhabi Bank/Supplied

by Kudakwashe Muzoriwa

The Mohammed Bin Rashid Fund (MBRF) of Dubai SME and First Abu Dhabi Bank (FAB) have partnered to launch a new financing programme for Emirati-owned SMEs in Dubai.

In a joint statement, FAB and Dubai SME said that the programme will give Emirati entrepreneurs in Dubai SME access to exclusive benefits allowing them to receive payments through FAB in a quicker and more efficient manner, enabling them to increase their liquidity for further growth and expansion.

Hana Al Rostamani, FAB’s Group Head of Personal Banking, said that the partnership promotes economic development and expansion while also enabling the country to become an entrepreneurial hub.

Under the agreement, FAB will also offer Dubai SME Emirati-owned suppliers with an easy and tailored solution to secure financing against sales invoices.

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