Under an agreement with the "Union for Export Credit" ... and in support of "Make in the UAE"

Emirates NBD facilitates financing for local companies

During the signing of the agreement.

From the source

Union Export Credit Company has signed a trade finance agreement with Emirates NBD, which will enhance the cash liquidity of exporters and UAE companies and their competitiveness in global markets.

A statement issued yesterday stated that this agreement comes in implementation of the memorandum of understanding signed between the bank and the company in 2019, and is in line with the "Make in the Emirates" initiative, as it will enhance the confidence of financial institutions and their ability to grant financing to Emirati companies, thus supporting their export activities and operations, and plans to expand Its business in the overseas market.

Under the new cooperation, "Union Export Credit" will work to secure the bank's transactions, which will enhance its ability to provide commercial financing to local companies.

This alliance is considered a positive step for Emirati companies, as the "Union for Export Credit" will support companies in facilitating the access of their products and exports to international markets, which will lead to the promotion of homemade products of high quality in multiple markets, thus enhancing their global competitiveness.

Ahmed Al Qassem, Senior Executive Vice President and Head of Corporate and Institutional Banking Group at Emirates NBD, said: “As the UAE aims to accelerate economic diversification and increase local manufacturing, it is the ideal time for Emirati companies to seek to expand and grow their business in international markets.”

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