ADGM partners with Zand Bank to support SMEs

ADGM partners with Zand Bank to support SMEs

ABU DHABI, 20th February, 2023 (WAM) -- Abu Dhabi Global Market (ADGM), the international financial centre in Abu Dhabi, and Zand Bank PJSC, 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-licenced 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.

ADGM and Zand Bank will work together on developing a capacity-building programme to improve knowledge exchange between employees and potential clients through educational sessions across sectors and stakeholders, networking, and training.

As per the agreement, ADGM will work together with Zand Bank to drive UAE national work placements and offer tailored finance training programmes, SME financing platforms, a Fintech sandbox, and corporate innovation programmes.

The ADGM community will be supported by dedicated client managers during the client onboarding and engagement process.

Additionally, the partnership will enable awareness of the Fintech opportunities and initiatives in Abu Dhabi and develop an ecosystem of