National Bank of Fujairah plans to set up SME banking platform

National Bank of Fujairah (NBF) plans to set up a banking platform for SMEs to provide access to comprehensive financial and business services and solutions.

NBF stated that the SME banking platform will leverage the bank’s latest business solutions and skilled expertise and will evolve into a unique space for SMEs to access banking requirements, find and interact with peers as well as create ideas that can address specific business challenges.

Devid Jegerson, the Head of Customer Experience and Platform Development, said, “Given that SMEs in the UAE are growing rapidly, the platform will serve as a digital space for the sector to interact with peers, share know-how and gain access to beneficial resources on government policies.”

According to the Ministry of Economy, the SME sector represents more than 94 per cent of the total number of companies operating in the country and provides jobs for more than 86 per cent of the private sector's workforce.