Press Releases

Issues No-fee Letters of Guarantee in Less Than 24 Hours

Abu Dhabi – 05 July 2020 - Finance House P.J.S.C announced the launch of its “Al Rabeh Guarantee”, the redefined letter of guarantee service, specially designed to tackle challenges that businesses face today.

The recently launched free-of-charge service facilitates the whole issuance processes of letters of guarantee within less than 24 hours. Further, it offers a competitive interest rate on cash deposits, throughout the validity period.

Al Rabeh Guarantee covers various types of letters of guarantee including: Tender bond, Performance bond, Advance payment bond, and much more.

Commenting on this, Khaled Abdel Azim Hassan, Head of Trade Finance, in Finance House, said: “In these challenging times, Finance House has taken a pioneering step through launching this no-fee letters of guarantee service with a competitive interest rate on cash deposits. This step is in line with Finance House's keenness to provide support and means of empowerment to business owners and companies, especially during the current global situation, by offering flexible, fast and diversified solutions that reinforce the growth and sustainability of local business.”

He added: “In addition to providing the service for free, we also promise to issue it in less than 24 hours. This reflects our commitment to maintain continuous provision of innovative solutions that support businesses and investments in all circumstances, as well as our keenness on staying up to date with our customers’ changing needs, and helping them overcome challenges, by developing our solutions and presenting competitive services that consolidate our status in the financial sector."