Gulf Finance launches high-yield Labour Guarantees

Gulf Finance Corporation, a wholly-owned subsidiary of SHUAA Capital and a leading provider of growth finance to SMEs and micro businesses, has launched its Labour Guarantee product that offers an attractive option to SMEs and corporates in general, looking to earn income from their Labour Guarantee linked deposits.

“With the UAE market growing at a faster pace compared to its peers in the region, the number of employees joining the workforce has been increasing. As per Ministry Of Labour data, there has been a steady increase in the number of expats registered under the MOL. Going forward this trend is likely to continue with EXPO 2020 being 4 years away driving the requirement for additional employees across multiple business sectors” commented, David Hunt, CEO of Gulf Finance.

“We have seen an increasing number of UAE small businesses looking for a Labour Guarantee product that can utilize funds tied under the linked deposits. Our own research tells us that there is a gap in the market for providing high interest rates without compromising on the ease of the transaction.

The new product offers up to 5% interest rate on the deposits linked to Labour Guarantees – and these high rates are promised to be offered without any hidden charges. Staying true to Gulf Finance’s promise of fast turnaround times, the guarantees can be opened within a mere six working hours. This in turn enables the businesses to address their staffing needs even at the last minute. Conveniences such as dedicated relationship manager, minimum documentation and flexible tenors make this offering a highly attractive option for UAE SMEs and corporates. 



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