IFZA, Dubai’s most dynamic free zone community, has signed a Memorandum of Understanding (MoU) with Abu Dhabi Islamic Bank (ADIB), a prominent UAE financial institution, to offer seamless support and innovative financial solutions to businesses within the IFZA ecosystem.
The partnership strengthens the mutual commitment of both parties to offer fast and convenient access to digital banking services and financial solutions, support entrepreneurs, and drive economic growth in the UAE.
Under the agreement, companies incorporated within the IFZA ecosystem will gain access to ADIB’s banking services, including streamlined account opening processes, exclusive financing options, and personalized advisory support enabling them to thrive in UAE’s dynamic business environment.
Through this partnership, trade license holders within the IFZA community 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.
By tapping into ADIB’s banking solutions, IFZA is reinforcing its commitment to becoming a one-stop solution for global entrepreneurs and investors, as per the statement.
Jochen Knecht CEO – IFZA
“At IFZA, we have always focused on creating a supportive environment for businesses to grow. 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.”
Commenting on the MoU, Amit Malhotra, Global Head of Retail Banking, commented that, “At ADIB, we are committed to supporting the UAE’s entrepreneurial ecosystem by offering innovative and Sharia-compliant financial solutions tailored to the needs of businesses. This partnership with IFZA underscores our dedication to simplifying banking processes and empowering businesses with the tools they need to thrive. 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 license holders by accelerating account setup and simplifying documentation requirements. It also offers customized financing solutions tailored to the unique needs of businesses, supported by dedicated teams providing strategic insights to navigate the financial landscape effectively.
