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Press release
FGB wins ‘SME Bank of the Year’ award
Local bank recognised at 2015 Arabian Business Startup Awards
Dubai, December 8, 2015: FGB, one of the leading banks in the UAE, was recently honoured
at the 2015 Arabian Business Startup Awards for its ongoing efforts to support small and
medium-sized enterprises (SMES) in the UAE. The bank was named ‘SME Bank of the Year’ at
a special gala dinner which was held at the Ritz Carlton DIFC hotel in Dubai and attended by
over 300 guests.
The Arabian Business Startup Awards were launched to celebrate entrepreneurs, SMEs and
startup businesses across the UAE and beyond. The 2015 edition of the awards recognised the
people, businesses and organisations that have helped to shape the region’s business
landscape, driving innovation, growth and productivity. The awards were judged through an
initial nomination process, before the finalists were shortlisted by a judging panel consisting of
representatives from the Arabian Business editorial team and ITP Executive Publishing
management.
Sai Aroor, Head of Business Banking at FGB, said: “We’re honoured to receive this SME Bank
of the Year award, which is testament to our ongoing efforts to help UAE SMEs grow and
succeed. SMEs are vital sources of innovation and essential to our country’s economic growth.
FGB is actively committed to driving entrepreneurial development and supporting the needs and
ambitions of young growing businesses in the UAE. This accolade reflects our achievements in
creating a unique spectrum of leading products and services for SMEs, to help them develop
and become a driving force in our economy.”
He continued: “We have around 350,000 SMEs operating within the UAE today, which
represent almost 92% of the total number of UAE companies, more than 86% of jobs in the
private sector and 60% of the country’s GDP. Accessing crucial financial support however, is
often difficult for SMEs. As a local bank, we have a responsibility to support and help these
companies to secure the funding they need to take their business to the next level.”
Neil King, Editor of Arabian Business StartUp magazine, said: “Start-ups in the region have
traditionally had a difficult relationship with banks, with lenders unwilling to fund new businesses
given the high risk involved. FGB is changing this mind-set with its ‘Startup Proposition’, which
is not only a bold move by the bank, but also a vital one for start-ups across the UAE. Our
judging panel chose FGB as the bank of the year for this very reason, praising its commitment
to developing new businesses in a way that other banks have so far been unwilling or unable to
do. We would like to congratulate FGB for its bravery on this front, and for providing a potential
lifeline for start-ups in need of finance.”
Earlier this year, FGB became the first bank in the country to launch a financing package for
start-up businesses in the UAE. The ‘Startup Proposition’ provides UAE SMEs with a variety of
financial solutions, including business current accounts, credit cards, start-up loans, overdrafts
and trade/working capital facilities, with no collaterals required. The start-up package was
launched to provide a one-stop financing solution to new companies and support local business
owners throughout each stage of their business journey.
Through the proposition, UAE SMEs can access a no-minimum balance current account and
platinum Visa business credit card in the first six months of operation, as well as an overdraft or
a start-up loan after six months. Businesses within the first 18 to 24 months of operation have a
combination of cash loans and trade facilities available to them.
-EndsAbout FGB
As a major leading Bank in the UAE, FGB had Shareholder Equity of AED 34.3 Billion as of September
30th, 2015 making it one of the largest equity based Banks in the UAE. Established in 1979 and
headquartered in Abu Dhabi, UAE, the Bank offers a full range of financial services to business and
consumer sectors throughout an extensive network of branches across the UAE. Internationally, FGB has
branches in Singapore and Qatar, representative offices in India, Hong Kong, Seoul and London and a
subsidiary in Libya.
FGB is recognised as a world-class organisation committed to maximising value for shareholders,
customers and employees as it focuses on delivering banking products and services that meet client
needs and support the UAE’s dynamic economy. In line with its commitment to excellence the Bank
continues to invest significantly in people and technology to provide superior service standards.
Awards

The Banker 2015 Islamic Banker of the Year Awards - “Shariah-Compliant Window”

Asian Banker 2015 Middle East and Africa Country Awards: “Best Wealth Management in the
Middle East Award” and “Best Mortgage and Home Loan Product in the Middle East Award”

2015 Banker Middle East UAE Product Awards: ‘Best Call Centre’, ‘Best Credit Card’, ‘Best
Personal Loan’, ‘Best Wealth Management Service/Proposition,’ ‘Best Offshore Wealth
Proposition’, ‘Best Deposit Account Product’ and ‘Best Bancassurance Product’

2015 Banker Middle East Industry Awards: “Best Bank in the UAE” and “Best Bank in the Middle
East”

2015 Global Capital Bond Market Awards: “Most Impressive Middle East Borrower Award”

2015 Arabian Business Achievement Awards: “Bank of the Year”
For more information
Visit FGB’s corporate website: www.fgb.ae
Follow FGB on social media:
For media inquiries:
Ghaleb Zeidan
+ 971 50 778 2286
[email protected]
Hiba Haddad
+ 971 56 1679577
[email protected]
Jennifer Cain
+ 971 55 4741105
[email protected]