Emirates NBD launches VAT-based loan solutions

DUBAI / Emirates Business

Emirates NBD announced the launch of a new VAT-based enhanced loan solution for small and medium-sized enterprise (SME) customers.
The new loan program makes it easier for SMEs to apply for financing by providing copies of their VAT (value added tax) returns filed with the UAE’s Federal Tax Authority to serve as validation of business turnover and income.
Suvo Sarkar, Senior Executive Vice President, Head of Retail Banking and Wealth Management, Emirates NBD said, “Emirates NBD’s VAT-based loan offering symbolises our commitment to the UAE’s small and medium businesses and supports the objective of Expo 2020 Dubai to foster growth of the SME sector.”