Dubai Chambers has signed a Memorandum of Understanding (MoU) with Emirates Development Bank (EDB) to enhance support for startups and small and medium-sized enterprises (SMEs), providing greater access to financing and tailored banking solutions.
The agreement includes funding for new and existing projects, as well as capital expenditure requirements, while also supporting the establishment of new businesses in Dubai.
It further enables the opening of bank accounts for local firms and multinational companies, including SMEs, easing the setup process in the emirate.
Dubai startup banking support
Under the MoU, Dubai Chambers and EDB will cooperate on initiatives to strengthen competitiveness, foster growth, and expand opportunities for SMEs.
The partnership will also explore trade finance solutions to help businesses with global expansion plans, and deliver value-added financial services to companies attracted by Dubai Chambers.
Khalid AlJarwan, Vice President of Commercial and Corporate Services at Dubai Chambers, said: “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, said: “Through this MoU, Emirates Development Bank will expand access to tailored financing—including working capital and CAPEX solutions—together with trade finance support and value-added banking.
“We will also leverage the EDB 360 digital banking platform to simplify onboarding and day-to-day banking for startups and SMEs.”
The partnership also considers preferential rates on bank account fees for Dubai Chamber of Commerce members, alongside opportunities for joint seminars and promotional roadshows to engage the wider business community.
By combining the Chambers’ global network and EDB’s financial expertise, the collaboration strengthens the emirate’s position as a hub for business growth, innovation, and international investment.
