The Banking Executive Magazine - September 2025 Issue

Dubai Chambers Dubai Chambers, Emirates Development Bank TO ENHANCE SUPPORT FOR STARTUPS The agreement will provide financ- ing solutions for both new and exist- ing projects, in addition to funding capital expenditure requirements for companies Dubai Chambers has signed a Mem- orandum of Understanding (MoU) with Emirates Development Bank (EDB) aimed at enhancing support for startups and small and medium- sized enterprises (SMEs). The agreement will provide financ- ing solutions for both new and exist- ing projects, in addition to funding capital expenditure requirements for companies. The MoU outlines cooperation on joint initiatives designed to strengthen the competitiveness, growth, and long-term success of Dubai’s business community. It also supports the establishment of new businesses in the emirate by facilitat- ing the opening of bank accounts for local firms and multinational compa- nies, including SMEs. Under the agreement, the two parties will explore ways to enhance collab- oration in delivering value-added banking and financial services to companies attracted by Dubai Chambers, as well as offering sup- port services and easing business setup in Dubai for clients of EDB’s in- ternational network. Opportunities will also be assessed for providing trade finance solutions to businesses seeking global expan- sion. Dubai Chambers and EDB will coop- erate on developing customised banking solutions tailored to the spe- cific financial needs of local SMEs, enabling their growth. Consideration will also be given to offering prefer- ential rates on bank account fees for members of Dubai Chamber of Com- merce, one of the three chambers operating under the umbrella of Dubai Chambers. In addition, the parties will explore opportunities to collaborate on or- ganising seminars and promotional roadshows. Khalid AlJarwan, Vice President of Commercial and Corporate Services at Dubai Chambers, commented, “We remain committed to building a supportive business environment that enables the growth of companies of all sizes, with a focus on startups and SMEs.” Shaker Zainal, Deputy CEO and Chief Business Officer of EDB, stated, “Through this MoU, Emirates Devel- opment Bank will expand access to tailored financing—including work- ing capital and CAPEX solutions—to- gether with trade finance support and value-added banking. We will also leverage the EDB 360 digital banking platform to simplify on- boarding and day-to-day banking for startups and SMEs, while collaborat- ing on initiatives that build capabili- ties and open new markets.” ISSUE 201 SEPTEMBER 2025 the BANKING EXECUTIVE 47