National Bank of Fujairah launches “NBF Elham” unit to empower Emirati business women for greater sucess
Bespoke corporate banking unit is UAE’s first and underscores bank’s unrivalled ability in leveraging sectorial expertise and multidisciplinary focus to support clients’ business needs
National Bank of Fujairah PJSC (NBF) today announced the establishment of "NBF Elham", a specialised business segment that is dedicated exclusively to supporting the unique banking requirements of Emirati female business leaders and entrepreneurs. Elham means "inspiration" in Arabic, and as the first bank in the UAE to maintain such a dedicated focus on partnering Emirati businesswomen, NBF has reaffirmed its strength in understanding customer needs across multiple business segments as well as its support for the contribution of Emirati women to the local economy.
NBF Elham is an extension of the multidisciplinary approach adopted by the bank's corporate and institutional banking division, which also has specialised teams focusing on industries ranging from energy and marine, services and manufacturing to precious metals and diamonds. Staffed by female Emirati corporate bankers and operating initially from the bank's Al Quoz branch, NBF Elham will provide Emirati businesswomen easy access to the bank's extensive knowledge and experience in multiple industries as well as its award-winning corporate banking services and growing suite of Islamic banking solutions.
NBF Elham was also established against the backdrop of a growing national awareness of the economic contributions made by Emirati women; whilst the UAE has issued countrywide directives committed to smoothening the transition of Emirati women into the corporate world, statistical and anecdotal evidence suggest that local female entrepreneurs, regardless of their strong ability and desire for success, still face challenges in receiving the appropriate support for their businesses.
Vikram Pradhan, NBF's Head of Corporate & Institutional Banking, said that NBF Elham reaffirms the bank's relationship-driven focus and commitment to the country's long term goal of cultivating a pipeline of Emirati business leaders.
"It is through my discussions with our Emirati lady clients and female relationship managers from my team that have made me realise that while the entrepreneurial spirit is very much alive in the UAE, many Emirati women entrepreneurs are not aware of, or do not have ready access to, the working capital, financial tools and expert guidance that would otherwise be available to other business owners.
"As a well-established local bank with one of the best track records in supporting businesses in the UAE, we are naturally the first to have identified this unique segment. By leveraging our highly trained and dedicated female Emirati relationship team and the bank's accumulated business experience and financial expertise, we hope to be able to level the playing field for aspiring Emirati female business leaders and thereby pave the way for their greater participation and success in the local economy."
Vince Cook, NBF's Chief Executive Officer, added: "The increasingly crucial role that Emirati businesswomen play in the future of the UAE requires little explanation, and as a customer segment, it is certainly deserving of greater attention from the local banking sector. Just as the government is actively pushing for greater inclusion of talented local women into the socio-political and economic spheres, we feel that there is much more that NBF can do on the ground to support the growing number of female Emirati businesswomen.
"Just as the country acknowledges the contributions of women with the recently-celebrated Emirati Women's Day, we at NBF are inspired by their ambitions and are committed to their success. With NBF Elham, we hope to not only encourage a stronger entrepreneurial culture within the country but to partner Emirati businesswomen as they achieve further breakthroughs in their respective industries."
About National Bank of Fujairah PJSC:
Incorporated in 1982, National Bank of Fujairah PJSC (NBF) is a full services corporate bank with strong corporate and commercial banking, treasury and trade finance expertise as well as an expanding suite of personal banking options and Shariah compliant services. Leveraging its deep banking experience and market insight within Fujairah and the UAE, NBF is well-positioned to build lasting relationships with its clients and help them achieve their business goals.
NBF's key shareholders include the Government of Fujairah, Easa Saleh Al Gurg LLC and Investment Corporation of Dubai. Rated Baa1 / Prime-2 for deposits and A3 for counterparty risk assessment by Moody's and BBB+ / A-2 by Standard & Poor's, both with a stable outlook, the bank is listed on the Abu Dhabi Securities Exchange under the symbol "NBF". It has a branch network of 15 across the UAE.