Prime Highlights
- Emirates Islamic launched a Dh1 million campaign to support SMEs through cash rewards over three months.
- The initiative comes as Dubai increases broader business support measures for the private sector.
Key Facts
- Emirates Islamic currently serves more than 40,000 SME customers through its business banking division.
- SMEs form the majority of private businesses in the UAE and play a major role in non-oil economic growth.
Background
Emirates Islamic has launched a Dh1 million campaign aimed at supporting small and medium-sized businesses in Dubai as entrepreneurs face tighter market conditions and growing pressure to strengthen their finances.
The Dubai-based Islamic lender said the initiative will reward 55 business customers over three months through cash prizes linked to growth in account balances. The campaign is part of the bank’s broader effort to help SMEs improve financial stability and deepen banking relationships.
The programme runs from April to the end of June and includes a top prize of Dh250,000 in the final draw. Two additional businesses will receive Dh100,000 each, while 12 other winners will get Dh25,000 prizes. Monthly draws will also award smaller prizes of Dh10,000 and Dh5,000.
Emirates Islamic said more than 40,000 SMEs currently use its business banking services. New customers joining during the campaign will receive double entries in the prize draws.
Bank executives said the initiative reflects growing efforts to provide stronger support to SMEs, which remain a key part of the UAE economy through job creation, innovation and non-oil growth.
The campaign comes as Dubai expands wider business support measures. The emirate recently approved Dh1 billion in economic facilitation measures for the private sector, with implementation beginning in April for a period of three to six months.
Separately, the Dubai World Trade Centre Free Zone signed an agreement with Wio Bank to offer digital banking and financial services for companies operating in the zone.
