Masdar City, Mashreq Bank unite to offer financial services to SMEs & Startups

Masdar City, Mashreq Bank unite to offer financial services to SMEs & Startups

Abu Dhabi’s Masdar City, one of the world’s most sustainable urban developments, and Mashreq Bank, the leading financial institution in the UAE have partnered to provide financial services to small and medium enterprises (SMEs) and startups in the City.

The MoU was signed by Mr. Abdulla Balalaa, Executive Director, Masdar City, and Mr. Vikas Thapar, Executive Vice President, Head of Business Banking & NeoBiz, Mashreq Bank, at an official ceremony.

Commenting on the agreement, Mr. Abdulla Balalaa stated that “Masdar City is currently home to more than 1,000 companies, including a wide range of innovation-focused SMEs and start-ups. Through this strategic collaboration with Mashreq Bank, companies in Masdar City will have direct access to the bank’s cutting-edge suite of specially designed services to facilitate the upscaling of their operations.

“The City is Abu Dhabi’s only planned and approved R&D cluster, and to businesses, we offer a unique ecosystem of education, R&D, and innovation, that not only allows them to develop and thrive but also supports Abu Dhabi’s position as a world-leading business destination. At Masdar City, we are shaping and incubating the sustainable industries of tomorrow and we look forward to adding Mashreq Bank to our valuable list of partners,” Mr. Balalaa added.

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