Merchant overdraft facility launched by Mashreqbank

DUBAI — Mashreqbank has launched an unsecured overdraft facility for merchants against their point of sale receivables, a first of its kind in the market.

By A Staff Reporter

Published: Wed 4 Apr 2007, 8:36 AM

Last updated: Sat 4 Apr 2015, 9:01 PM

Mashreqbank Merchant Overdraft is the first ever standalone unsecured business overdraft offering in the market; it allows customers involved in retail trading to leverage their existing business flows and catapult to the next level. The application and approval process has been kept relatively simple for the convenience of the relevant customer segments. The proposition is offered in combination with a business current account.

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