Anith Daniel – Group Head of Transactional Banking Services, Jaime Jos – Senior Relationship Manager, Corporate and Institutional Banking Group, Commodities- Precious metals and Diamonds, Ahmed Al Qassim – Group Head, Wholesale Banking Group, Joy Alukkas – Chairman of Joyalukkas Group, John Paul Alukkas – Managing Director of Joyalukkas International Operations and Thomas Scaria – General Manager Finance, Joyalukkas International Operations.
Jewellery retailer Joyalukkas has announced AED 500 million working capital facility provision through Emirates NBD, a leading banking group in the MENAT region. The agreement supports the company’s long-term expansion plans across the UAE and key international markets including the UK, USA, Canada, and Australia.
Structured to provide Joyalukkas with seamless and flexible access to capital, the bespoke deal highlights the retailer’s approach to global retail growth and underscores its long-standing relationship with Emirates NBD. The facility offers working capital on a revolving basis, enabling the company to draw and repay funds as needed, thereby enhancing cost-efficiency and operational control.
As the jewellery retailer continues to strengthen its footprint across the globe, the AED 500 million facility ensures timely access to inventory financing and liquidity to support peak trading periods and supplier commitments. The deal is fully integrated with Emirates NBD’s advanced digital and trade platforms, offering the company real-time visibility and convenience across its financial operations.
Joy Alukkas, Chairman of Joyalukkas Group said “This facility marks a significant milestone in our journey to expand into key international markets including the UK, USA, Canada, and Australia. Structured with flexibility and foresight, this deal sets a new benchmark in the jewellery industry and reflects our pioneering approach to organized retailing”.
Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD said “As a value-added product, this AED 500 million facility will help to provide the long-term support Joyalukkas needs to drive ahead with its international expansion plans, empowered by swift access to a framework of carefully structured and flexible capital.”
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Published on July 29, 2025
