UAQ Free Trade Zone to ease banking operations for SMEs, others

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A representational image of Umm Al Quwain Free Trade Zone
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  • Companies registered in the zone can avail of priority banking.
  • Services that include transactions, payments, savings and credit from NBQ will help businesses build their credibility, NBQ said.

DUBAI: A Memorandum of Understanding signed between the National Bank of Umm Al Quwain (NBQ) and Umm Al Quwain Free Trade Zone (UAQ FTZ) allows easing of corporate banking requirements of companies registered in the zone.

Such companies will form a privileged circle of customers who can avail of priority banking.

NBQ said in a statement that it offers a comprehensive and versatile suite of products and services for building the capabilities of SMEs, startups and large businesses in the UAE.

The corporate accounts will be offered to all entities registered with the zone across all business activities and license types.

Responsible financial services that include transactions, payments, savings and credit from NBQ will help these businesses build their credibility.

The MoU also includes extended services such as personal accounts, SME loans, Credit Cards, Multicurrency Prepaid Card, Personal Loans, Mortgage Loans and Auto Loans.

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