To support SMEs, Meydan Free Zone and Abu Dhabi Islamic Bank (ADIB) have signed a memorandum of understanding (MoU).
Trade licence holders in the Meydan Free Zone will have access to ADIB's broad selection of business banking products and services thanks to this cooperation. Along with a variety of business accounts loaded with outstanding features and perks, this also offers a suite of customised digital banking solutions designed to address the unique requirements of SMEs.
Through the partnership, both companies will be able to combine their resources and expertise to provide entrepreneurs with a more complete range of solutions and services, ultimately promoting economic growth.
Hamed Ahli, head of Meydan Free Zone, said: “We are delighted to partner with ADIB in our efforts to stimulate the business environment in Dubai and boost the emirate’s competitiveness. Complementing the various existing initiatives of the Meydan Free Zone, this MoU unlocks new financing potential for companies seeking to grow from Dubai.
“Furthermore, through this partnership, we continue demonstrating our commitment to providing SMEs and entrepreneurs with ease at every step of their setup journey.”
A recent partnership between DIFC Innovation Hub and Al Etihad Credit Bureau will allow for the creation of a partner ecosystem for startups in the UAE.
The declaration was made at the Madinat Jumeirah during the Dubai FinTech Summit 2023.
By opening up access to unmatched data utility and ensuring a consistently focused environment for the development and testing of more targeted solutions, the bureau will support the growth of the fintech sector, and DIFC's regulatory framework will offer a solid foundation for cooperative action.