Aseel launches credit card for SMEs

The product has a range of unique features which will play an important role in supporting locally grown businesses.

Abu Dhabi — Aseel Islamic Finance was recognised by Visa, a global payments technology company, for being the first financial organisation to issue a Visa Platinum business credit card in the UAE and Mena Region, which is specifically designed to address financing requirements for small and medium enterprises (SMEs).

The product has a range of unique features which will play an important role in supporting locally grown businesses and in turn promote the country’s overall economic growth. The Card will provide SMEs a new way to manage their business expenses, through Visa IntelliLink for Small Business (VISB). This web based tool gives customers access to transaction data, allowing SMEs to track spending and stay on budget.

Aseel’s joint effort with Visa addresses an increasingly important segment and supports the UAE Government’s strategic goals to promote the SME sector. The card is meant to facilitate financial management for users, allowing them to view and manage all their expenses in one location.

Fatima Qasimi, chief executive offiver Aseel Islamic Finance, said: “We wanted to go beyond offering SMEs more business finances, and to focus on providing them with a well-rounded product that gives them a financing line in addition to other supporting features that would facilitate their workflow.”

Marcello Baricordi, general manager-UAE and Global Accounts Lead, Visa MENA, said: “The Visa Platinum Business Credit Card is especially relevant in the UAE, where a majority of firms require better lending options to meet business needs. The business credit card is an easy way to separate company and personal expenses, manage business and travel spending, and simplify bookkeeping.”

— haseeb@khaleejtimes.com