Middle East’s best bank for SMEs 2023: Arab Bank
Arab Bank has long been at the forefront of innovation in lending to small and medium-sized enterprises. Its regional reach gives it the kind of presence few can match. At the time of writing, the Jordanian bank oversees a network of 600-plus branches on five continents and boasts offices in Jordan, Lebanon, the UAE, Qatar, Saudi Arabia and Egypt.
Key to its long-term plans in serving smaller enterprises is a new banking application launched in 2022. Arabi Next, described by Arab Bank as ushering in a new era of SME banking, allows small and mid-sized firms to conduct digital transactions within the lender’s network, as well as with financial institutions around the world, using its CliQ instant payments technology.
Another service, Arabi Connect, delivers a host of tools and services to mid-sized corporates, including account management, trade finance and cash management. The new platform gives business owners full visibility of all events across the corporate network, helping them to manage liquidity and prepare for any unexpected kinks in the system.