ADGM Goes into Partnership with Three UAE Banks to Support SMEs in Abu Dhabi

Abu Dhabi Global Market, the financial centre of the UAE capital, goes into partnership with Abu Dhabi Islamic Bank (ADIB), National Bank of Ras Al Khaimah (RAKBank) and Wio Bank to support small and medium-sized enterprises, state news agency WAM reports.

The partnership with ADIB and Rakbank enables key financial institutions in Abu Dhabi to receive preferential banking services registered and licensed with ADGM.

As for Wio Bank, an Abu Dhabi-based digital banking platform launched this year, ADGM has signed a preliminary MoU to give businesses easier access to open accounts.

We are looking forward to witnessing the impact of these partnerships on long-term growth of small and medium-sized enterprises (SMEs) in the UAE and beyond. This agreement is an extension of our ongoing commitment to reinforce the capital's positioning as a global financial services hub, while simultaneously supporting the backbone of UAE's economy - the SMEs,

Dhaher bin Dhaher Al Mheiri, CEO of the Registration Authority at ADGM, said.

The agreements were signed during the opening of Abu Dhabi Finance Week.