Noor Islamic Bank launches 'Business Instalment Finance' for small business entities

Small businesses that share an existing relationship with Noor Islamic Bank, can access loans at very competitive profit rates. The package includes fixed-term financing of up to Dhs750,000 for 48 months, with minimal documentation and processing time.

John Chang, Head of Retail Banking at Noor, said: "We recognise the significant role small sized businesses play in the UAE economy. Backed by an in-depth understanding of their' needs for financial support, our new products are designed to give our customers the opportunity to enter the market, or expand their existing businesses, in the UAE. Building on the success of Noor's innovative online portal, Forex and trade services, 'Business Instalment Finance' has been introduced to provide a wide range of exclusive features and benefits."

Since its launch in 2008, Noor has gained a reputation for offering innovative, client-focused, banking products and services. It continues to lead the retail banking market in providing convenient banking solutions, including the UAE's first fully operational mobile internet banking experience in the Arabic language. Noor was also the first Islamic bank to offer an on-line account opening service.

The easy to use service enables UAE residents to apply for either current, savings or current and savings accounts, from the comfort of their home or office, without the need to visit a bank branch. Account approval is normally given within 48 hours. People living outside the UAE, who wish to have a Noor account in the UAE, can apply for a savings account through the web site.