Abu Dhabi’s Department of Economic Development and Abu Dhabi Islamic Bank Sign Joint Cooperation Agreement to Enhance Business Facilitation Services

ABU DHABI, 18th May, 2020 (WAM) — The Department of Economic Development and Abu Dhabi Islamic Bank announced today the signing of a joint cooperation agreement to provide services for opening bank accounts for investors and holders of economic licenses issued by the Department, which contributes to facilitating business in the Emirate of Abu Dhabi.
The agreement aims to enhance cooperation and coordination between the two parties to simplify and speed up the process of opening bank accounts for investors and holders of economic licenses issued by the Department of Economic Development – Abu Dhabi by submitting a request to open a bank account through the “investor’s journey” in the “Tamm” platform for government services, which links the investor to the private bank application Companies to facilitate the account opening process digitally.

The “Tamm” platform provides an integrated journey, a series and a system of services to facilitate business establishment, and provides an integrated digital experience for investors to benefit from a package of services and transactions, and to meet the requirements of a number of government agencies in one platform.

This process allows companies to launch their businesses efficiently and quickly, which contributes to the economic growth efforts in the Emirate of Abu Dhabi.

Under the agreement, the two parties will be able to exchange relevant knowledge and information in order to conduct analysis and decision-making processes, in addition to forming a joint working group to establish a joint mechanism for implementing the terms of the mutual cooperation agreement.
His Excellency Mohammed Munif Al Mansouri, Executive Director of the Abu Dhabi Business Center at the Department of Economic Development – Abu Dhabi, said: “The agreement with Abu Dhabi Islamic Bank is part of our continuous efforts to provide advanced and convenient services to support investors and facilitate doing business by reducing costs, facilitating procedures and providing seamless integration of government services. We continue to Expanding the range of services and partners, improving the business environment and providing the best possible conditions for growth and prosperity for investors.
For his part, Mohammed Omar Al-Salem, Head of Business Banking Services at Abu Dhabi Islamic Bank, said: “We are pleased to sign the agreement with the Department of Economic Development – Abu Dhabi, which will contribute to empowering the business community through cooperation and mutual benefit in the field of banking services. Its provisions have been drafted to facilitate opening procedures.” bank accounts and provide a seamless experience for both investors and companies. We look forward to joint and effective work under our partnership with the Department of Economic Development in Abu Dhabi, which will bring great benefits to the business community as a whole.”
As part of the agreement, which aims to streamline commercial operations in Abu Dhabi and promote sustainable economic growth, the Department of Economic Development – Abu Dhabi will provide the possibility to apply for opening bank accounts in Abu Dhabi Islamic Bank through the “investor’s journey” on the “Tamm” platform for government services.