Khalifa Fund for Enterprise Development launched its operations in 2007 to promote and nurture entrepreneurialism and help the development of start-up and existing businesses. The Fund extends credit to small and medium size businesses.
Under the terms of the MoU, NBAD would provide credit administrator services of the Fund.
The bank will process the loan application and all the procedures involved in the offering and servicing of Khalifa fund credit to borrowers.
Khlaifa Fund for Enterprise Development CEO Ahmed Khlail Al Mutawa said this MoU comes to reflect Khlaifa Fund’s continuous efforts to build long-term partnership with Abu Dhabi financial institutions to ensure proper financing solutions and minimal rates and administration fees to support and develop SMEs.
"We are extremely pleased with the professional approach of the Business Banking Group of NBAD which reflects their strong track record and long experience in meeting the demands of SMEs," Mutawa said.
