National Bank of Fujairah, NBF, yesterday 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.

Vikram Pradhan, NBF's Head of Corporate and 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 female Emirati clients and 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."
Source: WAM