The agreement provides the business sector with preferential banking services, including the speedy opening of account opening processes for companies registered in the Abu Dhabi Global Market, including startups, small and medium companies working in the field of technology, digital assets, funds and institutions.
Start-up companies registered in the Abu Dhabi Global Market benefit from the valuable services provided by Zand Bank, including the “SME Marketplace” and the “Zand Bank Digital Platform”.
Abu Dhabi, United Arab Emirates: Abu Dhabi Global Market, the international financial center of the capital of the United Arab Emirates, and Zand Bank, the first digital bank licensed by the Central Bank of the United Arab Emirates, have signed a partnership agreement to provide preferential banking services that support the growth of start-ups, small and medium enterprises.
The agreement focuses on facilitating the process of opening bank accounts for companies registered in the Abu Dhabi Global Market, including small and medium-sized companies, virtual asset companies, funds and institutions. This cooperation aims to empower the Abu Dhabi Global Market community and the SMEs registered in the market, by providing them with valuable and customized services, including the “SME Market” service and the “Zand Digital Platform”. Under this agreement, ADGM and Zand Bank will stimulate job opportunities in the UAE through training programs in the field of financial services, financing platforms for small and medium enterprises, financial technology platforms, and corporate innovation programs. The ADGM community will be supported by banking advice from client managers who will be assigned this task during the client onboarding and activation process. This partnership will also raise awareness and opportunities to explore and participate in FinTech initiatives in Abu Dhabi to develop an inclusive ecosystem of FinTech partners.
Zand Bank was launched to change the way banking services are provided in the UAE, leveraging the power and capabilities of advanced data, seamless operating models and cutting-edge technologies aimed at simplifying and improving the banking experience for customers at the same time, in line with the programme. The digital national of the UAE, where Zand Bank aspires to establish its position as the gateway to the region’s markets.
As part of this agreement, ADGM provides its support to “Zand Bank” to enhance its efforts to develop business and reach the largest 100 companies listed in ADGM through investment banking services. In turn, “Zand Bank” will allocate a platform to assist and meet the needs of ADGM employees and the institutions registered in it, as this platform will play the role of the initial point of contact that responds to the banking requirements of employees, including providing information, responding to inquiries, receiving complaints, and introducing employees interested in “Zand Bank” offers. Miscellaneous.
Commenting on the conclusion of this partnership, Dhaher bin Dhaher Al Muhairi, CEO of ADGM Authority, said: “We are pleased to partner with Zand Bank and collaborate on initiatives that benefit both sides, with the aim of strengthening the ADGM community through preferential corporate banking services. Emerging, small and medium enterprises, which are essential pillars of the efforts to diversify the economy in Abu Dhabi and the UAE, in addition to being among the most prominent contributors to the dynamism and activity of the market.The provision of digital financial services to individuals and companies through “Zand Bank” for the benefit of small and medium enterprises, is evidence of our continuous efforts to support We look forward to continuing the long-term growth that this partnership will bring to the Abu Dhabi Global Market community and to emerging, small and medium-sized companies in the UAE.”
For his part, Michael Chan, CEO of Zand Bank, said: “We are pleased to announce this partnership with Abu Dhabi Global Market to support emerging, small and medium-sized companies operating in the technology field in the UAE. As the leading international financial center in Abu Dhabi, Abu Dhabi Global Market is home to a large number of diversified companies, all of which are looking to achieve growth and expand their business in the region. For our part, we seek to empower these companies financially through our innovative digital banking services that focus on meeting the needs and aspirations of customers.”
With this agreement signed today, Zand Bank joins six banking institutions that have partnership agreements with Abu Dhabi Global Market, in addition to many other major banks operating in the capital and the UAE.
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