UAE: ADDED, ADIB to facilitate digital business banking account opening

UAE: ADDED, ADIB to facilitate digital business banking account opening

ABU DHABI - Abu Dhabi Department of Economic Development (ADDED) has signed a Memorandum of Understanding (MoU) with Abu Dhabi Islamic Bank (ADIB) to jointly offer bank account opening procedures for investors and business licence owners issued by ADDED, facilitating business in Abu Dhabi.

The collaboration between the two parties aim to simplify and expedite the process of opening a bank account for investors and ADDED business licence owners by submitting the bank account application online.

The “Investor’s Journey” in the “Tamm” platform for government services, provides an integrated process and smooth system of services to facilitate business establishment.

This system also offers the investors an integrated digital experience with a package of services that helps them meet the requirements of several government agencies on a single platform.

Improving business environment

This streamlined process will help businesses to start operating more efficiently, contributing to the economic growth of Abu Dhabi.

The two entities will jointly facilitate the exchange of knowledge and relevant information between each other to enable effective analysis and decision-making. In addition, a joint working group will be formed to establish a mechanism for mutual cooperation.

Mohammed Munif Al Mansouri, Executive Director of Abu Dhabi Business Center ADBC at Abu Dhabi Department of Economic Development,