A historic Dh500 million working capital facility deal was signed by Joyalukkas, a well-known international jewelry store, and Emirates NBD to support the company’s worldwide development plan in the UAE, UK, USA, Canada, and Australia.
Joyalukkas can more easily handle inventories, supplier payments, and periods of high trading thanks to the structured facility’s flexible, revolving access to finance. Real-time insight and simplified financial control are provided to the jewelry brand through the arrangement, which is integrated with Emirates NBD’s sophisticated digital and trading systems.
The deal, according to Joy Alukkas, chairman of the Joyalukkas Group, is a major step in the company’s international expansion. This building embodies our creative, disciplined approach to organized retail and sets a new standard for our industry. We appreciate Emirates NBD’s ongoing support of our efforts and acknowledge their longstanding partnership,” he stated.
Emirates NBD’s group head of wholesale banking, Ahmed Al Qassim, said the facility demonstrates the bank’s capacity to provide specialized, digital-first lending solutions that are suited to the strategic requirements of major corporations. “This Dh500 million agreement demonstrates our dedication to nurturing the ambition and is intended to support Joyalukkas’ growth with a flexible capital framework.
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