Dubai Chambers Formally Agree to Collaborate with Emirates Development Bank, Strengthening Assistance for Small and Medium-Sized Enterprises
In a significant move to bolster the business landscape in Dubai, Dubai Chambers and Emirates Development Bank (EDB) have joined forces. The partnership aims to create a conducive environment for startups and Small and Medium Enterprises (SMEs) to thrive.
Khalid AlJarwan, Vice President of Commercial and Corporate Services at Dubai Chambers, and Shaker Zainal, Deputy CEO and Chief Business Officer of EDB, will spearhead this collaborative effort.
The partnership will see EDB offering growth-focused banking solutions to small businesses, streamlining their day-to-day operations. EDB's digital banking platform, EDB 360, will be instrumental in this, simplifying the onboarding process for SMEs.
Moreover, the partnership is expected to broaden access to trade finance for small businesses, opening up new opportunities for growth and expansion.
While the exact date of the signing of the Memorandum of Understanding between Dubai Chambers and EDB is not yet known, the collaboration is poised to make a significant impact on the business community in Dubai.
The digital banking platform provided by EDB is expected to enhance efficiency and ease of doing business for SMEs, a move that aligns with Dubai's ambition to become the world's leading digital economy.
This partnership underscores Dubai's commitment to fostering a business-friendly environment and supporting the growth of its SME sector, a crucial driver of economic development.
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