CHAIRMAN’S STATEMENT

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Key Achievements in 2022

I summarize below the key achievements for the year 2022, which made it an outstanding accomplishment for the group:

Finance House and Khalifa Fund for Enterprise Development’ partnered to facilitate access to financing services for SMEs owned by UAE nationals and encourage entrepreneurship in the UAE. The agreement will also position Khalifa Fund and Finance House as significant contributors to Abu Dhabi’s SME Development Vision.

Finance House has partnered with GCC Exchange, the fast-growing money transfer and foreign exchange Company in the Emirates, to offer a world-class WPS Payroll Solution. This partnership is in line with the UAE government’s initiative to create a fair work environment that supports the workers’ rights, protects their wages, and helps attract the best professional profiles.

Finance House has signed a first-of-a-kind agreement with Global Software Solutions Group, a UAE-founded software solutions organization, to offer real-time payment services in the UAE. This partnership will contribute to further shaping the UAE’s growing FinTech sector. Finance House’s new vision is to empower its customers to become their own personal bankers by making all financial services available through all of Finance House’s digital platforms.

Finance House is among nine other leading institutions partnered with the Abu Dhabi Department of Economic Development (ADDED) to facilitate the process of applying for business bank accounts through ‘Investor Journey’ Portal. This will enhance digital experience that provides all the banking needs that business owners and entrepreneurs require through the platform in an easy and fast manner, without physically having to visit the branch.

Finance House announced the launch of “Al Rabeh Business” to support local businesses / SMEs, by offering a suite of products to simplify financial services and provide enhanced earnings, ease of use, and lighting speed turnaround times. These products include Al Rabeh Guarantee, Al Rabeh Deposit, and Al Rabeh WPS.

After its success with individuals’ financing, the SME Gold Loan product was launched, as a part of Finance House’ objective to cater SMEs with a novel way of financing. This unique product will enable the prospective clients to make use of their gold/gold jewelry to avail facilities. The gold will effectively be the collateral of this transaction.