National Bank of Umm Al-Qaiwain (NBQ), celebrated opening of a new office in Umm Al Quwain Free Trade Zone (UAQ FTZ) recently. The ceremony was attended by Mr. Adnan Al Awadhi, NBQ Chief Executive Officer along with Mr. Mike Tufail, NBQ Assistant General Manager and Mr. Johnson M George, General Manager, Umm Al Quwain Free Trade Zone.
This new office will aim towards easing the banking operations for SMEs, Entrepreneurs and Large Enterprises in UAQ. UAQ Free Trade Zone (UAQ FTZ) and NBQ have signed an MOU to enhance the bilateral relationship in providing easy access to convenient banking through this office.
This will open doors for companies in UAQ Free Trade Zone (UAQ FTZ) and stewarded area to benefit from NBQ presence there.
The main point of consideration is that corporate bank accounts will be offered to entities registered with UAQ Free Trade Zone across all business activities and license types.
“In today’s challenging economic conditions, SMEs can get financial support and access to avail simple and NBQ’s convenient banking solutions that better suit their needs such as easy access to account opening services, credit facilities, trade finance services, etc. In the process, this arrangement will accelerate the growth of UAQ economy and also boost the expansion of further companies to register with UAQ Free Trade Zone that will bolster businesses and amplify more economic activities,” Mr. Adnan Al Awadhi said while opening the new office.
This association will also enable affordable and accommodating banking solutions with special account packages.
