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Emirates NBD, DMCC partner to ease payment process for freezone members

A zero per cent credit card installment plan has been introduced for a wide range of DMCC services

by Zainab Mansoor

September 1, 2020

Dubai-based Emirates NBD and the Dubai Multi Commodities Centre (DMCC) free zone have partnered to ease out the payment process for DMCC member companies.

Existing and new DMCC member companies will be permitted to spread out payments for DMCC services over multiple installments using their credit cards at a zero per cent interest rate.

The installment plan allows over 17,500 members the flexibility to convert DMCC payments for company setup, renewal or any other service-related fees into three, six or 12-month installment plans with no interest charges.

The service is available for DMCC customers when using any Emirates NBD credit card issued to individuals or corporates, with a minimum payment of Dhs500.

Customers using individually issued credit cards can conveniently convert their payments by using the mobile app or online banking as well as through push and SMS messaging while corporate cardholders can get in touch with their relationship manager or contact the bank’s call centre to request for the same.

Ahmad Hamza, executive director – free zone of DMCC, said: “Supporting our business community throughout the past few months has been our top priority, and will remain so as we enter this new phase of reopening and recovery. Our partnership with Emirates NBD, alongside the extended and enhanced DMCC Business Support Package, is set to boost Dubai’s economic resilience at this critical time and ensure that the Emirate remains the chosen place for doing business in the coming months and years.”

“Emirates NBD is committed to supporting initiatives that enhance the ease of doing business in the UAE. We are delighted to partner with DMCC to offer this program that will provide increased convenience and flexibility to our customers in managing their business. This is part of a range of measures that we have put in place for SME and individual customers to provide financial relief and support during this time,” noted Suvo Sarkar, senior executive vice president, head of Retail Banking and Wealth Management, Emirates NBD.

In August, the DMCC free zone slashed its business setup fees by 50 per cent for all diamond-related companies, until September 30, 2020.

Read: Dubai’s DMCC cuts business registration fees for diamond companies by 50%