Abu Dhabi Islamic Bank, Meydan Free Zone collaborate to support SMEs

Abu Dhabi Islamic Bank (ADIB) has signed a memorandum of understanding (MoU) with Meydan Free Zone, in an effort to promote SMEs.

Through this partnership, trade license holders within the Meydan Free Zone will have access to ADIB’s diverse range of business banking products and services. This includes a wide selection of business accounts packed with great features and benefits, as well as a]suite of bespoke digital banking solutions to meet the specific needs of SMEs.

The partnership will enable both organisations to pool their resources and capabilities to offer startups a more comprehensive suite of solutions and services, ultimately driving growth and fostering a more resilient economy.

Meydan Free Zone to showcase ADIB’s  product offerings

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.”

In recent news, DIFC Innovation Hub and Al Etihad Credit Bureau have signed an agreement to enable the development of a partner ecosystem for startups across the UAE.

The announcement was made at the Dubai FinTech Summit 2023 at the Madinat Jumeirah.

Read: Emirates NBD, DIFC to support Dubai Economic Agenda D33 goals

The bureau will support the fintech sector’s growth by enabling pathways of access to unparalleled data utility and ensuring a consistently focused environment for the development and testing of more targeted solutions, while DIFC’s regulatory framework will provide a robust platform for collaborative action.