Abu Dhabi: IFZA signed a memorandum of understanding (MoU) with Abu Dhabi Islamic Bank (ADIB) to offer seamless support and advanced financial solutions to businesses within its ecosystem.

The two parties will team up to provide quick and convenient access to digital banking services and financial solutions, driving economic growth in the UAE, according to a press release.

Under the agreement, companies incorporated within the IFZA ecosystem will access ADIB’s banking services, including streamlined account opening processes and exclusive financing options, among others.

By leveraging ADIB's banking solutions, IFZA is strengthening its commitment to becoming a one-stop solution for global entrepreneurs and investors.

The CEO of IFZA, Jochen Knecht, commented: “Our partnership with ADIB aligns with this vision of providing businesses with comprehensive financial solutions that meet the evolving needs of our partners and reflects our commitment to unlocking new opportunities for IFZA licensees.”

“With this partnership, we aim to create a seamless ecosystem that supports entrepreneurs and investors in achieving their business goals,” Knecht added.

Amit Malhotra, Global Head of Retail Banking, said: “By combining our expertise in Islamic banking with IFZA’s dynamic Free Zone community, we aim to foster economic growth and create value for entrepreneurs and investors in the UAE.”

The partnership aims to streamline business processes for IFZA licence holders by accelerating account setup and simplifying documentation requirements. It also offers customised financing solutions tailored to the distinctive needs of businesses.

In December, Hub71, Abu Dhabi’s global tech ecosystem, and ADIB joined forces to bolster startup growth and anchor Abu Dhabi as a leading global hub for innovation and entrepreneurship.

Source: Mubasher

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