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A note from ADCB Business Banking

Products & Services in focus

Customer Corner (feedback / quotes / interview / suggestion / awards etc.)

Key highlights / changes in the UAE regulatory / economic trends

Channel in focus

Offers

Quick Links

Economic trends and Industry highlights speci-ffc to the UAE business

A note from ADCB Business Banking

We take pride in being associated withthe success stories of businesses likeyourselves that have proved resilientand adaptive to ever-changingheadwinds.

This Quarterly Newsletter is designedespecially to serve a bigger list of yourgrowing requirements.

You may also contact your RelationshipManager or call our 24-hour Business

Banking Contact Centre, 800SME800 (800763800, toll-free within UAE)+971 4 4273951 (outside UAE)to find out how ADCB can help youwith the best banking solutions foryour business.

We would appreciate if you could take a few moments to send us your feedbackand suggestions at bbd@adcb.com.

Greetings from ADCB! As part of our continued drive towards serviceexcellence, we’d like to connect with you once again to discuss ways tosupport your business further. While the global economy is witnessingits share of upheavals, we at ADCB remain committed to working withour business partners.

Economic trends and Industry highlights specific to the UAE businesshttp://www.adcb.com/about/news/econimic-research.aspx

The Week Ahead: ECB to remain on hold; Turkey to cut overnight interest rate

Europe: No change in ECB policy, comments in focus

We expect monetary policy to remain steady at the ECB’s 21 April meeting, after the comprehen-sive package of monetary loosening measures that was introduced in March. We believe the ECB will require a number of months to gauge the im-pact of the package. We expect President Mario Draghi to give a strong message that the bank has further space to manoeuvre, if required, es-pecially given the recent criticism from Germany. Markets will closely watch for Draghi’s assessment of the economic and inflation outlooks. There could be further information on the policy meas-ures announced in March, including regarding the inclusion of investment grade corporate debt in the QE programme. In the UK, the focus will be on labour (20 April) and retail sales (21 April) data. This should provide an indication of corporate and private activity amidst the Brexit uncertainties.

Global: Japan March trade and US housing data in focus

Data from Japan will be closely watched ahead of the BoJ’s 27-28 April meeting. Key releases this week will include trade data for March, with con-sensus expecting an even wider trade surplus with a greater yearly contraction in imports. Japan re-alised its largest trade surplus in February in four years. Overall, the trade data reflects both a weak domestic and external backdrop.

The strong JPY is acting as a significant drag on ex-ternal competitiveness and is threat to the inflation outlook. In the US, the focus will remain on the US earnings season. The key economic data will be housing related, including new housing starts and existing home sales. June and December.

Meanwhile, the lesser ability of the ECB and BoJ to weaken their currencies when they eased pol-

icy recently, even though this was not the ECB’s objective last week, supports the outlook for US rate hikes, in our view. The further strengthening in the USD was a key concern, especially given the outlook for monetary policy divergence.

Turkey: Further cut in the overnight lending rate expected

We expect the CBRT to lower the benchmark overnight lending rate by 50 bps at its 20 April meeting, after the surprise 25 bps cut in March. Central bank guidance indicates that it is looking to narrow the interest rate corridor; other key benchmark interest rates were kept steady at the March meeting. In our view the CBRT is looking to front load cuts in the overnight lending rate, given the TRY stability and gradual outlook for the Fed’s hiking cycle. However, the change in the central bank governor and several commit-tee members in the coming months could pro-vide some uncertainty. The April meeting will be the first under new governor, Murat Cetinkaya.

Oil: No agreement on oil produc-tion freeze in Doha

Key OPEC producers and Russia failed to agree an oil output cap at January levels at the 17 April meeting in Doha. Expectations of an output freeze have contributed to the rise in oil prices since the January lows. Oil prices fell following the meeting, despite the sharp drop in Kuwaiti production on the back of an oil workers strike (page 3). Going forward, the fall in US production and the pace at which Iran increases output will be critical for the rebalancing of the oil market.

Important – please refer to the disclaimer at the end of the attached report.

Key highlights / changes in the UAE regulatory / economic trends

The UAE government has recently announced changes to the company law for LLCs. From a bank financing perspective these changes /require-ments impact companies (specifically LLCs); as they are required to provide the bank with a few additional documentation requirements or amend core documents of the company. These changes must be complied by companies before 1st July 2016. An excerpt of the new company law giving the above impact is mentioned under:

Under Article 154 of the company law, the Pow-ers of the Board of Directors - The Board of Directors shall have all the powers specified in the Articles of Association of the company, oth-er than as reserved by this Law or the Articles of Association of the company to the Gener-al Assembly. However, the Board of Directors may not enter into loans for a period in excess of three years, sell the property of the compa-ny or the store, or pledge movable and immov-able property of the company, discharge the debtors of the company from their obligations, make compromise or agree on arbitration,

unless such acts are authorized under the Articles of Association of the company or are within the object of the company by nature. In cases other than these two ones, such acts require to issue a special resolution by the General Assembly.

As a result of the above stated changes, the company is required to amend and furnish to banks - its MOA/ AOA (from point of view of entering into financial lending transactions with bank) empowering the shareholders to:

1. Have the powers clearly specified allow-ing the board of directors to enter into loans for periods in excess of 3 years

2. Have the powers to sell property, mort-gage /pledge moveable / immovable property of the company

3. Discharge the debtors of the companyobligation, make compromise & agree on arbitration

New Company Law Requirements:

Trade License Update:

UAE Central Bank requires banks to obtain all necessary information and documents on juridical personsespecially the trade license and must diarise for renewals in order to keep a copy of the valid license onbank's files at all times. ADCB clients are required as per regulation to maintain and provide updated validTrade copies to their banks on regular frequency. Request your support with timely submissions of thesame to your relationship managers.

Products & Services in focusGovernment Contractor & Supplier Financial Solutions:

Given the UAE government initiative to promote SMEs with increased government contract allocation to them, ADCB has designed a special product program catering to individuals and SMEs who undertake small scale supply contracts to the Government.

Key features of this program are:

The following facilities can be availed without financial statements:

Pre-sales (up to AED 2.5MM) Post-sales (Up to AED 5 MM)

• Letters of Credit

• Trust receipts

• Loans against imports

• Invoice Discounting

• Cheque Discounting

• Progress Payment Certificate Discounting

• Reduced business vintage requirement of one year

• Short term facilities with tenor up to 180 days (such as LC, TR, LAI etc.) can be provided

along with the guarantees

• Relaxed and reduced security requirements & margin requirements

• Facilities can also be provided to sub-contractors

Real Estate financing - Lease Rental Discounting Solution:

At ADCB, supporting your strategic business growth ambition and expansions is our primary focus and endeavour. Whether your challenges are addi-tional capital to take forward, a business project or expansion of your office / business premises, ADCB has it all covered. Our Lease rental finance solution will fulfill your medium to long term busi-ness and financial needs by converting your future lease rental income into immediate cash for you.

At ADCB, supporting your strategic business growth ambition and expansions is our primary fo-cus and endeavor. Whether your challenges are ad-ditional capital to take forward, a business project or expansion of your office / business premises, ADCB has it all covered. Our Lease rental finance solution will fulfill your medium to long term busi-ness and financial needs by converting your future lease rental income into immediate cash for you.

Key features (Lease Rental Discounting)

• Flexible tenures of up to 20 years• Simple documentation and quick processing• Loans up to AED 50 Million and up to 10x of your

annual rental income• Easy access to funds (partial withdrawal of rents

are allowed)• Shariah compliant solutions are also available

Additionally, we also offer financing solutions to UAE registered businesses and UAE Nationals to purchase a wide range of commercial properties located in the UAE. ADCB›s Commercial Property Finance solution can help you turn your dream of-fice or commercial premises into a reality.

Asset Backed Funding – Refinance solution

There are times when a business having consid-erable equity in their existing assets would like to undergo equipment refinancing to leverage that equity for working capital, debt consolidation, or business expansion. Do you own a mortgage-free vehicle or equipment? Avail ADCB’s Equipment Refinance facility and release capital

from your asset to further invest in your business. The terms are broadly the same as financing an asset when you buy it – except in this instance, the funds are released to you rather than the seller.

Unique Selling Proposition:

• Loan against existing revenue generating vehicle or equipment

• Asset is used as security

Key Features:

• Loan amount up to AED 2 million• Funding up to 70% of the value of the asset• Funding available across wide array of brands,

vehicles and equipment• Flexible loan repayments by way of installments up

to 36 months• Shariah compliant solutions are also available

Channel in focus

• Single sign-in access to cash management services and trade finance (ProTrade)

• Straight-through processing of remittances / bills• Single view of your ADCB relationship• Multi-bank account reporting available, including

accounts held with other banks• Corporate cheque printing functionality• Online initiation of Wages Protection System (WPS)• Direct transfer and receipt of payment files to and

from corporate ERP systems• Enhanced single and bulk payment functionalities• Extensive funds transfer capabilities• Utility bill payments to Etisalat, SEWA, DEWA, du• Request for cheque book and duplicate statement• Know your Relationship Manager and his / her

contact details and much more...• Facility for clients to create user access rights

To register, please contact your Relationship Manager or alternatively call our 24/7 toll-free Business Banking Contact Centre at 800 SME, 800763 (within UAE) and +971 4 4273951 (from outside UAE) or visit anyADCB Branch. Also for more information on Wages Protection System (WPS), please contact your Relationship Manager or SMS “WPS” to 2626.

With a push of a button you can now seamlessly process and pay wages to your employees in a time-ly manner. Apart from being a money saver, using WPS via ProCash can open doors to the following attractive benefits:

• One solution for payroll management• Prompt salary disbursement to all employees fully compliant with government guidelines• Less paperwork with full audit trail, securely accessible 24/7• Protection from falsified claims of non-payment of salaries• Option to upload Salary Information File (SIF)• Monitor and track salary disbursement through real-time viewing• System Alerts in case of errors in file uploads

When businesses span multiple countries, you need increased efficiency. Our online cash management portal ProCash is the nerve cell of your daily cash management activities; including straight through processing of payments both local and international, collection services, instrument printing, salary and WPS payments, along with other Cash Management banking services.

ProCash – WPS payments:

Key Benefits

ProCash

• Fast, convenient and secure• Extended deposit window• Reduced deposit preparation cost• Physical transportation using courier services

• Real-time cheque information validation• Online verification process• Enriched reporting for auto A/R update

ProCash – Remote Cheque Scanning Solution:

Customer corner(feedback / quotes / interview / suggestion / awards etc.)

Abu Dhabi Commercial Bank (ADCB( was recently awarded the SME Banking Innovation award from Enterprise Agility Awards, for its unparalleled commitment to support the entre-preneurial ecosystem in the UAE. The award was conferred to the Bank in recognition of its customer service excellence, which has resulted in unparalleled customer satisfaction.

With approximately 50,000 corporate and SME clients, ADCB offers entrepreneurs support from planning to ex-ecution, ensuring a successful growth path. Recently, the bank has expanded its footprint by launching a num-ber of new branches and ATMs and CDMs located across the UAE, aiming to increase customers’ accessibility.

ADCB’s robust internet banking platform grants access to all its customers anywhere, and anytime. It was led by the award-winning ProCash platform, and has a dedicated qual-ified team of RMs with solid experience to help smooth all their banking procedures with ADCB. The Bank is recent-ly adopting a new customer approach, which categorises the customers under SMEs, MCD and Large Corporation, to present only relevant and accurate banking solutions.

Commenting on the award, Gopal Iyer, Head of Business Banking at ADCB said: “The Enterprise Agility Award is a rec-ognition of ADCB’s commitment to support entrepreneurs in achieving their ambitions. ADCB consistently tries to offer easy and relevant banking solutions that cater to our cus-tomers’ diversified needs. We are indeed honoured to have our efforts recognised by the publishers of Entrepreneur, as we continue to develop vital and smart financial services to maintain the financial excellence ADCB is known for.”

SME Banking Innovation Award – full coverage

All Awards - http://www.adcb.com/about/news/awardsnew.aspx

Customer corner(feedback / quotes / interview / suggestion / awards etc.)

Dear Ashit, I would like to take this opportunity to thank you

for your efforts in securing the release of our account downgrad-ing with the Central Bank. Without your hard work and persistence on this matter it would not have been resolved until after the end of the month and we would not have been able to proceed with our performance Bond for our Museum project in Jumeira with our client Waagner Biro. Your input into this matter is much appreciated and I look forward to working with you in the future.

Dear Sasi, We are really happy to place it on record that the

services and support you and your team had provided in discount-ing the two bills we submitted on last Wednesday (Al Jaber). It was excellent and we are grateful to you for providing us such supe-rior quality services in a timely manner.

The quick response from your team and timely intervention from you were the essence.

Once again congratulations to you and your team. Now we truly believe in your service capabilities and accordingly, we would like to recommend “ADCB Trade Finance Services” to other companies in our group and to our Customers and Suppli-ers as well. Regards

Greetings from AROMA,

I really appreciate your guidance, and the time you spent for us to make the vehicle registration process in Ajman. We also would like to extend our boundless thanks to you for the support that you have given to us and our future business relation-ships. Thanks & Regards

John O’KellyManaging Director

Shimmy Mathew, ACAC F O, RAIMONDI GROUP LLC

ANTONY.M.AManager – Accounts, Aroma rent-a-car

Save up to 70% on remittance fees with ProCash (online banking service).

Call 800-SME-800 (800-763800) to know more.

يمكنــك توفيــر حتــى ٧٠٪ مــن رســـوم الحــواالت عنــد استخدامـــكمنصة برو كاش االلكترونية لتحويل األموال.

يرجي األتصال بالرقم ٨٠٠ ٧٦٣ ٨٠٠ لمزيد من المعلومات.

Outward remittance charge (India / GCC) at branch teller is AED 100 per transaction, while the same can be executed through ProCash for as low as AED 30 per transaction – a saving of 70%! For additional details, please get in touch with your Relationship Manager or speak to one of our Contact Centre Agents at 800-SME-800 (800-763-800).

ADCB Business Banking Solutions & Services: http://www.adcb.com/sme

Terms & Conditions: http://www.adcb.com/general/termcondition/termsconditions.asp

Charges & Fees: http://www.adcb.com/businessbanking/smebanking/quick-links/charges-fees.asp

Forms:

ATM / CDM / Branch Locations:

Feedback & Suggestion: BBD@adcb.com

Trade Services: TFO_Servicedesk@adcb.com

ProCash Helpdesk: ProCash.Implementation@adcb.com

24/7 Business Banking Contact Centre: 800 SME 800 (800 763 800)

Quick Links

Offers - ProCashSave up to 70 % charges for online remittances

adcb.com

THANK YOU