DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise has announced an agreement with Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Turkey) region to offer existing and new DMCC member companies the opportunity to spread out payments for DMCC services over multiple instalments using their credit cards at a 0% interest rate.
The instalment plan offers existing and new members the flexibility to convert DMCC payments for company set-up, renewal or any other service-related fees into three, six or 12-month instalment plans with no interest charges. The service is available for DMCC customers when using any Emirates NBD credit card issued to individuals or corporates, with a minimum payment of AED 500.
The partnership offers over 17,500 DMCC member companies the benefits of making ongoing routine payments conveniently, providing liquidity and financial flexibility. The offer will also assist new companies to make setup related payments in a more manageable way and at no additional cost. Customers using individually issued credit cards can conveniently convert their payments by using the Mobile App or Online Banking as well as through push and SMS messaging while corporate cardholders can get in touch with their relationship manager or contact the bank’s call centre to request for the same.
Ahmad Hamza, Executive Director - Free Zone, DMCC, said: “Supporting our business community throughout the past few months has been our top priority, and will remain so as we enter this new phase of reopening and recovery. Our partnership with Emirates NBD, alongside the extended and enhanced DMCC Business Support Package, is set to boost Dubai’s economic resilience at this critical time and ensure that the Emirate remains the chosen place for doing business in the coming months and years. We are confident that through collaboration and cooperation, we will emerge from this stronger and overcome the current period while maintaining a robust economy.”
Suvo Sarkar, Senior Executive Vice President, Head of Retail Banking and Wealth Management, Emirates NBD, added: “Emirates NBD is committed to supporting initiatives that enhance the ease of doing business in the UAE. We are delighted to partner with DMCC to offer this program that will provide increased convenience and flexibility to our customers in managing their business. This is part of a range of measures that we have put in place for SME and individual customers to provide financial relief and support during this time.”
The new instalment plan comes after DMCC rolled out its largest-ever commercial campaign, the Business Support Package in March to support new and existing member companies navigate the challenges posed by COVID-19. In light of the strong appetite and positive reactions from the market, DMCC extended and expanded the package until the end of August.
Further information on the payment plan offered by Emirates NBD can be found here.