National Bank of Fujairah (NBF) has signed a memorandum of understanding with Numou, a UAE-based digital financing marketplace and subsidiary of ADGM, to help small and medium-sized businesses access tailored funding.
The partnership will connect SMEs across the UAE with financing options covering account opening, guarantees, working capital, invoice financing and trade finance. According to the announcement, the two organisations will help businesses identify solutions aligned with their growth stage, funding needs and long-term plans.
SMEs represent 94% of businesses operating in the UAE, with financing needs evolving as companies scale, diversify and enter new markets.
NBF will contribute its relationship-led banking expertise, while Numou will provide its digital financing marketplace. The partnership will also explore ways to create a more connected financing experience for UAE businesses.
Numou’s existing network includes fintech lenders CredibleX, Erad, Klubwork, Ahbi, Zelo and FlapKap, as well as government programmes such as the Khalifa Fund for Enterprise Development’s Abu Dhabi SME Champions Program.
Source: Fintech News UAE
