National Bank of Fujairah partners up with Royal Health Group in funding AED 50 million to help stop the spread of COVID-19
National Bank of Fujairah JSC (NBF) announced today its collaboration with Royal Health Group, a healthcare group based in Abu Dhabi, through funding them with AED 50 million to curb the spread of the COVID-19 pandemic. The group provides a wide array of medical expertise in the UAE and beyond,where the funding was initiated towards better equipping them as a national response to the COVID-19 pandemic.
Royal Health Group has various healthcare provisions under its network, including specialised clinics, pharmacies, day surgeries, home care, and rehabilitation services. The funding was used to manage the operations of two Emergency COVID-19 hospitals, support mobile teams for regular PCR testing at various sites in the UAE, and assist the national vaccination campaign. These efforts combined will boost the national capacity and limit the spread of coronavirus cases.
Commenting on this, Rehan Ali, NBF’s Head of Business Banking, said: “NBF has always been known as the preferred financial partner for businesses in the UAE, and we strongly believe that we have a role to play in supporting various stakeholders to pave the road towards economic and societal recovery. In initiating AED 50 million worth of funding, we reiterate the importance of collaboration between banks and businesses in future-proofing our society and economy. We would like to congratulate and thank Royal Health Group for their efforts to assist stop the spread of the COVID-19 pandemic and usher us into a new normal.”
Speaking on behalf of Royal Health Group, Dr Mohammed AlSeiari, Chairman of Royal Heath Group, said: “Royal Heath Group, a well-recognised national healthcare group that is led by Emirati physicians, has been very effective in supporting UAE government’s fight against COVID-19 pandemic. With more than 1 million vaccination shots and 2 COVID-19 hospitals entrusted by the Department of Health, Royal Health Group became one of the major operators to fight against this pandemic during 2020-2021. Our partnership with NBF has been a major cornerstone to ensure the financial stability of the group’s medical operations.”
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 Shari’a 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 with a negative outlook; and BBB / A-2 by Standard & Poor’s 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 (of which 1 is an electronic banking service unit) across the UAE.
For further information, please contact:
Strategic Marketing and Communications Department
Telephone: +971 4 507 8351 and +971 4 507 8576