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Gulf Finance partners with Al Amaal
By our business bureau December 28, 2017
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DUBAI: Gulf Finance, the UAE-based lender, has signed a partnership agreement with Al Amaal Business Services TAS’HEEL centre to further expand its distribution network.

This partnership represents Gulf Finance’s fourth consecutive cooperation agreement to be concluded in the past two months with different authorised TAS’HEEL centres, in line with its strategic plans to enhance and extend its line of products and services outside of the traditional lending landscape.

Al Amaal Business Services is a TAS’HEEL authorised centre located at the Airport Road in Abu Dhabi, authorised by the Ministry of Human Resources and Emiratization and other governmental bodies to provide services to its customers.

The partnership will see Al Amaal Business Services offering its client base Gulf Finance’s Labour Guarantee issuances and E-dirham services.

The agreement was signed by Mustafa Kheriba, Managing Board Director at Gulf Finance, and Ghanem Al Agha, Chief Executive Officer of Al Amaal Business Services in a ceremony in Abu Dhabi.

Commenting on this partnership, Mustafa Kheriba said: “Gulf Finance is pleased to join forces with Al Amaal Business Services, and looks forward to build on this relationship to diversify its platform of distribution channels”.

Kheriba added: “We will continue establishing similar additional tie-ups with other TAS’HEEL service centers across the United Arab Emirates, as part of our initiative to expand Gulf Finance’s liability portfolio, through its Labour Guarantee linked deposits offering.”

Gulf Finance has delivered a number of strategic initiatives since appointing a new board in December 2016, with the company returning to profitability this year and laying the foundations for future growth.

Gulf Finance is a wholly owned subsidiary of Shuaa Capital, the leading integrated financial services Group. Since its inception in 1997, Gulf Finance has been providing financing solutions to UAE-based SMEs, via a broad range of flexible financing solutions such as small business loans, business vehicle finance, trade and working capital finance, business deposits and commercial finance product.

SHUAA Capital (SHUAA) offers client-centric, fully integrated financial services. SHUAA, headquartered in Dubai, United Arab Emirates, services corporate and institutional clients as well as family businesses and high-net-worth-individuals with expertise in the areas of asset management, investment banking advisory services, capital markets and credit. SHUAA was established in 1979 by Emiri decree No.6. SHUAA is a public shareholding company, regulated as a financial investment company by the UAE Central Bank, and its stocks are listed on the Dubai Financial Market.

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