Abu Dhabi: Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has recently entered into a Memorandum of Understanding (MoU) with Meydan Free Zone, best known for its expertise in setting up businesses in Dubai, emphasizing its commitment to promoting SMEs and promoting sustainability in the economy.

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 complete suite of bespoke digital banking solutions that have been tailored to meet the unique needs of SMEs. With this innovative collaboration, trade license holders within the Meydan Free Zone will be empowered to optimize their financial performance and reach their full potential.

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

Commenting on the partnership 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."

ADIB is committed to facilitating the growth of SMEs and have been constantly supporting them through several initiatives that enable business owners to reach their full potential. The partnership with Meydan Free Zone is a testament to this commitment, as it enables the bank to provide SMEs with a more comprehensive suite of solutions and services.

This collaboration offers the trade license holders of Meydan Free Zone with unparalleled access to ADIB's cutting-edge business banking products and services, where they aim to equip SMEs and start-ups with state-of-the-art digital banking services, enabling them to meet their financial and business needs while contributing to the UAE's pursuit of the thriving role of SMEs in the UAE economy.

The collaborative efforts of Meydan Free Zone and Abu Dhabi Islamic Bank are expected to result in a more vibrant and dynamic business environment that empowers SMEs and supports their long-term success.