For UAE SMEs: These business solutions simplify services and boost earnings

Small businesses in the UAE have been hit hard by the pandemic, with many seeking solutions to cut costs and improve efficiencies.

It is to support SMEs that UAE-based Finance House, one of the country’s first ‘independent’ finance companies, launched its ‘Al Rabeh Business’ suite of products earlier this year. The products include Rabeh Deposit, Rabeh Guarantee and Rabeh WPS.

Rabeh Deposit

According to Finance House, the deposits scheme offers “very attractive interest rates across all tenors”. Moreover, the depositor has the option to receive the full interest due in advance with a minimum deposit of Dhs10,000. Clients also enjoy the flexibility of withdrawing up to 25 per cent of the principal amount without any reduction in the agreed interest rate. The scheme offers deposits of varying tenors ranging from one month to five years.

Rabeh Guarantee

Al Rabeh Guarantee covers all types of guarantees (tender, performance, advance payment and others) issued by Finance House on behalf of its customer, favouring beneficiaries in the public and private sectors. It offers “competitive interest rates” on 100 per cent cash margin accounts against the guarantee value.

Processed in less than 24 hours with zero commission or fees, the service allows businesses to complete all the procedures hassle-free.

Rabeh WPS

Al Rabeh WPS aims to facilitate and simplify a company’s payroll process. New clients receive free WPS charges for the first three months and can easily process salaries via a portal to ensure accuracy and timeliness of issuance. A mobile application is also accessible for employees to check their salary updates.

TK Raman, CEO of Finance House, said: “The Al Rabeh suite of products and services demonstrates our strong commitment to small and medium sized businesses across the UAE by offering innovative, flexible, fast, hassle-free, diversified, and cost effective financing solutions that enable our SME customers to focus on profitable business growth, sustainability of local business, and expansion.”

Finance House has a network of branches spread across Abu Dhabi, Dubai, and Sharjah.

“We understand our clients’ needs, and we continue to empower businesses and companies by offering them a seamless banking experience, especially during these challenging economic times,” Raman added.