National Bank of Fujairah (NBF) PJSC is building a dedicated banking platform for Small and Medium Enterprises (SME) in the UAE, providing access to comprehensive financial and business services and solutions. The platform will be an exclusive digital space co-created with SMEs to understand and address their needs better.
Positioned as a community platform ‘For SMEs by SMEs’, the SME banking platform will leverage NBF’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, and create ideas that can address specific business challenges.
Devid Jegerson, Head of Customer Experience and Platform Development, said: “National Bank of Fujairah was one of the first banks to set up a dedicated team supporting small and medium-sized businesses in the UAE, so we have the knowledge and expertise to help SMEs realise their full potential through digital, tailor-made solutions. Given that SMEs in the UAE are growing rapidly, the platform will serve as a digital space for SMEs’ to interact with peers, share know-how and gain access to beneficial resources on government policies.”
According to the UAE – 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. Therefore, there is a huge opportunity to steer SMEs to realise their full potential through a model that invites business owners to exchange ideas and discuss challenges – from access to funding, to supply chain financing, hiring resources and logistics management.