Union Investment Bank purchases the Instrument — i.e., a Bill of Exchange or a Promissory Note for instance — before it has been paid and credits its value (after deduction of fees and a ‘discount’ charge) to your account.
The discount charge is equivalent to the rate of interest applying to the advance from the date of purchase until the date the bill is actually paid. The size of the advance is determined primarily by the perceived risk associated with the instrument and the number of days left until payment is due.
Email us at or call us on [email protected], +971 552 677 087. You can also visit us at 39 Dubai Residential Oasis Damascus Road, Dubai,
United Arab Emirate.