Short of cash? UAE bank offers cash advance to residents

Abu Dhabi-based FGB, one of the leading banks in the UAE, is launching a new service, which it calls a 'convenient cash solution'.

FGB has partnered with UAE Exchange to launch 'Advance', which offers customers residing in the UAE a financial solution to meet immediate short-term cash needs at any time. As part of the agreement signed by both parties, customers will benefit from this new service using the extensive branch network of UAE Exchange across the UAE.

Girish Advani, Head of Personal Banking at FGB, said, "FGB is always looking for new solutions to provide UAE residents with creative services and products that meet their expectations and financial needs. Based on the feedback we have been receiving from clients, and from what we are hearing from residents, we felt that there was a real need for a service that would provide individuals with access to cash in a quick and immediate manner. We partnered with leading entity, UAE Exchange, and together we have come up with our new Advance service as a result."

Promoth Manghat, CEO of UAE Exchange, added, "It is a delight to partner with an esteemed organisation like FGB, which shares our vision and values for enhancing customer experience. Our partnership will enable the UAE residents to avail short-term cash advances at any of our close to 150 branches across the UAE, of which 17 are on the Dubai metro network."

The bank didn’t reveal whether this facility was available only to its customers or to all the residents of the UAE.