National Bank of Fujairah (NBF) has unveiled a new offering aimed at startups and small and medium-sized businesses (SMEs) in the UAE.
The new offering, called NBF Lite Bank Account, is aimed to offer its target market with digital banking solutions.
NBF Lite Bank Account is designed to support flexi desks and co-working businesses in select free zones.
It is part of the NBF digital platform ‘NBF Connect’ and claims to offer exclusive banking services to start-ups while connecting them with their peers to expand their network and help them find new growth opportunities.
NBF business banking head Rehan Ali said: “Since its inception, NBF has positioned itself as the preferred financial partner for businesses in the UAE. We have always believed in supporting businesses growth by leveraging our cross-sectorial expertise, as well as a range of products and services.
“The banks boasts a solid track record of supporting the burgeoning SME ecosystem in the country in line with the UAE’s vision and vibrant entrepreneurial spirit. With business banking at its core, NBF aims to unlock emerging opportunities for start-ups and SMEs through tailored digital banking offerings and leverage the growth opportunities that lie in the UAE.”
NBF Lite Bank Account requires its customers to maintain a monthly average balance of AED 10,000 ($2722.54).
In 2021, NBF launched the ‘Ahlan’SME account and the ‘OneStop’ business account.