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Emirates Money gets licence.

Byline: Dubai

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Emirates NBD has obtained a licence from the Central Bank of the United Arab Emirates to launch a new consumer finance company under the name of Emirates Money Consumer Finance.

The licence will allow Emirates Money to commence operation within the Emirates with immediate effect.

C[pounds sterling]Emirates Money will redefine the consumer finance market in the region,C[yen] said Jamal Bin Ghalaita, chairman of the board for Emirates Money and general manager of consumer banking and wealth management for Emirates NBD.

C[pounds sterling]Over the coming weeks and months, weCOll be launching a range of loan products under the Emirates Money name that we know, through in depth consumer research, will meet a current gap in the market.C[yen]

C[pounds sterling]From a group perspective, establishing a consumer finance company is central to the vision of Emirates NBD to be recognized as the leading and most dynamic financial services provider based in the Middle East,C[yen] continued Ghalaita.- TradeArabia News Service

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Publication:TradeArabia (Manama, Bahrain)
Date:Jul 20, 2008
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