Dubai Chambers Formalizes Agreement with Emirates Development Bank to Enhance Small and Medium Enterprise Assistance
In a significant move to bolster the financial landscape for small and medium-sized enterprises (SMEs) in Dubai, Dubai Chambers and the Emirates Development Bank (EDB) have signed a Memorandum of Understanding on September 18, 2025.
The partnership aims to expand financial and business support for startups and SMEs in Dubai. This collaboration will provide financing solutions for new and existing projects, making it easier for businesses to access banking services and establish themselves.
The EDB's digital banking platform will play a pivotal role in this partnership, aiming to broaden access to trade finance and growth-focused banking solutions for small businesses. The platform is designed to simplify onboarding for small businesses and enhance day-to-day operations.
Joint initiatives will deliver value-added banking services and customized solutions for SMEs. These initiatives may include promotional roadshows and seminars to further support startups and SMEs in their growth journey.
Trade finance options for businesses seeking global growth are also part of the collaboration. The partnership aims to support Dubai's competitiveness by offering tailored financial products.
However, it's important to note that the partnership does not mention any new joint initiatives delivering value-added banking services and customized solutions specifically for SMEs. Similarly, no new financing solutions or capital expenditure funding have been announced as part of this partnership.
Preferential rates on bank account fees for Dubai Chamber of Commerce members are under consideration. This could potentially provide an added advantage to the members, making it more affordable for them to conduct their business operations.
Khalid AlJarwan, Vice President of Commercial and Corporate Services at Dubai Chambers, reinforces the partnership's commitment to creating a supportive business environment for startups and SMEs. Shaker Zainal, Deputy CEO and Chief Business Officer of EDB, shares this sentiment and plans to utilise the EDB 360 digital banking platform to facilitate this mission.
This partnership is a significant step towards fostering a conducive business environment in Dubai, providing SMEs with the necessary support to thrive and contribute to the city's economic growth.
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