Announces AED 500mn working capital deal
Emirates NBD has announced a landmark AED 500mn working capital facility to support the family-owned company’s long-term plans for expansion, internationally and regionally.
Uniquely structured to allow Joyalukkas flexible and easy access to capital as and when required, the deal reinforces Emirates NBD’s premier role as the go-to banking partner for the gold and jewelry sector, both in the UAE and further afield.
Emirates NBD will work closely with Joyalukkas’ retail network to provide essential inventory financing and operational liquidity, ensuring smooth cash flow during peak times and swift settlement of supplier obligations without funding constraints.
With Emirates NBD acting as the anchor bank for the bilateral capital facility, Joyalukkas will receive centralized financial support fully integrated with Emirates NBD’s digital and trade platforms to provide real-time transaction visibility as well as ease of use.
“The provision of this working capital facility for Joyalukkas shows Emirates NBD’s agility and capability to develop sector-specific transactions that cater to the exact needs of our expansive and diverse ecosystem of clients credit solutions,” stated Ahmed Al Qassim, Group Head of Wholesale Banking, Emirates NBD.
