Abu Dhabi Global Market partners with ADIB, Wio Bank, RAKBANK to support SMEs

Abu Dhabi Global Market partners with ADIB, Wio Bank, RAKBANK to support SMEs

Abu Dhabi Global Market (ADGM) has partnered with Abu Dhabi Islamic Bank (ADIB), Wio Bank and RAKBANK to support small and medium-sized enterprises (SMEs) in Abu Dhabi with access to key financial services. The announcements were made during the first edition of Abu Dhabi Finance Week (ADFW). The partnerships with ADIB and RAKBANK will focus on addressing the needs of key financial entities in Abu Dhabi by providing ADGM-registered and licensed businesses with preferential banking services. The strategic agreements will see the parties collaborate with ADGM on initiating fast and efficient bank account opening, developing education and business training material, as well as conducting research on financial services and fintech-related initiatives. ADGM’s MoU with Wio Bank will provide businesses with fast-tracked application submission and a unique opportunity to open a zero balance account with a one-month free trial, free debit card and cheque book, virtual debit cards, invoicing features and one of the best foreign currency conversion rates for international outward and inward remittances. Dhaher bin Dhaher Al Mheiri, CEO of the Registration Authority at ADGM, said, “e are looking forward to witnessing the impact of these partnerships on long-term growth of small and medium-sized enterprises (SMEs) in the UAE