United Arab Emirates’ number one bank, the National Bank of Abu Dhabi (NBAD) has introduced NBAD Visa Business Credit Cards meant exclusively for small- and medium-sized enterprises (SME). The move will prove boon for SMEs for meeting their financial needs and derive their growth.

Haitham AlRefaie, the Head of Business Banking Group at NBAD said that SMEs being critical component of the nation’s economy require such fast track facilities. NBAD has already started delivering various financial services to this segment sensing their dire need and services to the nation.

NBAD will change no fees for Visa Business Card and rather offer other special features include up to 50 days interest-fee grace period, travel insurance up to US$150,000, special offers and discounts. SMEs may avail credit limit from AED 20,000 to AED 500,000 from the bank.

Suvo Sarkar, general manager for consumer and elite banking at National Bank of Abu Dhabi (NBAD), said, "2009 was probably was the lowest in terms of numbers, up to mid-2010. From the second half of 2010, we've seen a 15-20 percent pickup from those numbers."