The National Bank of Abu Dhabi (NBAD) has added three new business current accounts exclusively for small and medium-sized enterprise (SME) clients.

NBAD, which is committed to support the growth of SME sector in the UAE, has specifically tailored each account to suit and fulfill diverse business needs in the market.

The new current accounts are Business Basic, Business Advantage, and Business Preferred. Business Basic account suits entrepreneurs of micro businesses who have low to moderate transaction volume. This account requires minimum balance of only AED 1,000. Business Advantage account is designed for companies with average levels of transaction volume and requires minimum balance of AED 10,000. Business Preferred account is tailored for medium size businesses with high levels of transaction. It requires minimum balance of AED 25,000.

NBAD’s business current accounts offer accounts holders the benefits of free monthly account statements and free ATM cards. Account holders would be eligible for a range of working capital and trade finance facilities. In addition, accounts holders will enjoy free day-to-day banking transactions to operate their business and free access to NBAD online service to monitor their account.

"NBAD believes in the role of SME sector in growing the UAE economy and endevours to provide suitable banking products and services to help SME succeed in entrepreneurship," said Haitham AlRefaie, the Head of Business Banking Group at NBAD.

Recent statistics reveal that SMEs contribute more than 46% to the UAE’s GDP and account for about 90% of all businesses in the country.

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