ADGM partners with Zand Bank to support SMEs in Abu Dhabi

ADGM partners with Zand Bank to support SMEs in Abu Dhabi

The agreement will provide businesses with preferential banking services including efficient bank account opening for ADGM-licensed entities, including technology SMEs, Digital Assets companies, funds, and corporations

Agreement to enable start-ups incorporated in ADGM to benefit from Zand Bank’s curated value proposition including access to SMEsouk, Zand’s digital platform for SMEs. — File photo

Published: Mon 20 Feb 2023, 5:41 PM Last updated: Mon 20 Feb 2023, 6:02 PM

Abu Dhabi Global Market (ADGM), the international financial centre in Abu Dhabi, and Zand Bank, the UAE’s first all-digital bank licenced by the UAE Central Bank, have signed a memorandum of understanding (MoU) to support UAE SMEs and provide preferential banking services.

The agreement will focus on providing preferential banking services including efficient bank account opening for ADGM-licensed entities, including SMEs, virtual assets companies, funds, and corporations.

The collaboration aims to empower the ADGM community and SMEs incorporated in ADGM by offering a curated value proposition for those, including access to SMEsouk, Zand’s digital platform for SMEs.

Empowering ADGM’s community

“We are pleased to partner with Zand Bank to collaborate on mutually beneficial initiatives and empower ADGM’s community with dedicated banking services," Dhaher bin Dhaher Al Mheiri, CEO of ADGM, said.

Dhaher bin Dhaher Al Mheiri and Michael Chan signing