FGB partners with UAE Exchange to provide residents with innovative cash service

In line with its efforts to provide its customers with unique banking products, FGB is launching a new service; a convenient cash solution.

As part of its ongoing practice of actively listening to community needs and addressing financial challenges that are being faced by residents and expatriates alike, FGB partnered with UAE Exchange to launch an innovative, efficient solution for customers.

(L-R) Hana Rostamani, Head of Consumer Banking, FGB with Promoth Manghat, CEO, UAE Exchange during the signing ceremony

The new service, Advance, offers customers residing in the United Arab Emirates (UAE) an easy and convenient financial solution to meet immediate short-term cash needs at any time. As part of the agreement signed by both parties, customers will benefit from this new service provided by FGB using the extensive branch network of UAE Exchange across the UAE.

Girish Advani, Head of Personal Banking at FGB, said: “FGB is always looking for new solutions to provide UAE residents with creative services and products that meet their expectations and financial needs. Based on the feedback we have been receiving from clients, and from what we are hearing from residents, we felt that there was a real need for a service that would provide individuals with access to cash in a quick and immediate manner. We partnered with leading entity, UAE Exchange, and together we have come up with our new Advance service as a result.”

Promoth Manghat, CEO, UAE Exchange, added: “It is a delight to partner with an esteemed organisation like FGB, which shares our vision and values for enhancing customer experience. Our partnership will enable the UAE residents to avail short-term cash advance at any of our close to 150 branches across the UAE, of which 17 are in Dubai metro network. I am sure the accessibility to the customers and the trust which UAE Exchange enjoys among them, adds to this new cash advance convenience, which will bring them immense value in times of need.”

To meet the needs of UAE business owners and support them at each stage, FGB recently enhanced the flexibility of its Business Banking solutions for UAE SMEs, by allowing start-up customers to repay their loans in daily, weekly or monthly installments – a first-of-its-kind feature in the UAE. All FGB Business Banking loans are supported by the unique FGB Business Current Account, which gives customers the flexibility to manage their repayments in the best way possible for their business. The FGB Business Current Account also provides customers with the opportunity to earn interest on their balance.