IslamicFinance.de

Noor Islamic Bank (Noor) is targeting Dhs5bn of lending to small and medium enterprises (SMEs) over the next five years with the launch of Noor Trade. This Shari'a compliant banking service is specifically tailored for SMEs that contribute significantly to the UAE's trade flows. In support of its Noor Trade strategy, Noor has opened its first dedicated trade branch in Almas Tower, home of the Dubai Multi Commodities Centre (DMCC), in Jumeirah Lake Towers (JLT). A second similar branch is scheduled to open in Deira, in July. Under the Noor Trade brand, clients will have access to fully Shari'a compliant financial services, including cash management, trade, and working capital solutions, along with consumer, treasury and takaful products packaged at preferential rates based on eligibility criteria.