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12/26/2017 NBF–banking options for female Emirati entrepreneurs | CPI Financial | CPI Financial | Features | Details financial analysis and comments
services for Emirati businesswomen, was established in 2015 against a backdrop of growing national awareness of
the economic contributions made by this demographic.

“Whilst the UAE has issued countrywide directives committed to easing the transition of Emirati women into the
corporate world, statistical and anecdotal evidence suggest that local female entrepreneurs, regardless of their
strong ability and desire for success, still face challenges in receiving the appropriate support for their businesses,”
said Ibrahim.

When developing the product to cater for their business needs, the bank had to consider several different factors,
from its mission and commitment, to supporting the local economy.

“Through various discussions with our Emirati clients and female relationship managers it was obvious that although
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,” said Ibrahim.

She added that Emirati businesswomen play an increasingly crucial role in the future of the UAE, 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, the team
at the bank felt that there is much more that NBF can do on the ground to support the growing number of female
Emirati businesswomen.
In many cases, a number of Emirati women work from home without establishing business premises, while many
others have reported a lack of financial literacy to meet the minimum requirements of corporate lending.

“This particular segment of banking faces many challenges on an ongoing basis. The fact that we are targeting a
niche segment within the market only emphasises that local sensitivities will naturally resurface, and that
communication across the board requires a unique approach that specifically targets Emirati businesswomen,” said
Ibrahim.

She added that since the UAE is a male-dominated market, women often find it challenging to break out and obtain
the required financing for their new business ideas. Many even lack the confidence or business knowledge that
would help them develop their ideas into established companies.

“Many NBF Elham clients have not approached banks for corporate facilities in the past, and are excited by the
prospect of developing business with this unique solution. The fact that NBF Elham actively supports women by
offering banking and advisory solutions; financial literacy workshops; engaging activities to further develop and
educate Emirati women; as well as a dedicated team of Emirati relationship managers to maintain a solid
relationship with clients and provide them with the support they need, the offering has received a great deal of
interest in the market,” said Ibrahim.
However, Emirati businesswomen still prefer traditional banking to modern-day solutions including online banking.
Enthusiasm towards the online offering will still require sometime before it catches up with that of the traditional
offering.

Clientele
NBF Elham caters to a wide spectrum of clientele, not just existing NBF customers. Financial solutions are available
to small corporates with turnovers of less than AED 10 million to larger companies with turnovers greater than AED
40 million.

There has been an interest in NBF Elham from clients in various industries including but not limited to design,
engineering, education, and trading. Current accounts can be opened for corporates with businesswomen working
under the Intlaq scheme [an initiative by the DED to encourage more UAE nationals to set up businesses from
home], as well as for newly established companies and for well established businesses.

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