IFZA partners with ADIB to deliver seamless business banking services in the UAE

IFZA partners with ADIB to deliver seamless business banking services in the UAE

Dubai, UAE – January 14 2025: IFZA, Dubai’s most dynamic free zone community, recently signed a Memorandum of Understanding (MoU) with Abu Dhabi Islamic Bank (ADIB), a leading financial institution UAE, to provide seamless support and innovative financial solutions to businesses within the IFZA ecosystem. The partnership reinforces a shared commitment of both companies to provide quick and convenient access to digital banking services and financial solutions, support entrepreneurs and foster economic growth in the UAE.

The MoU was signed during a ceremony held at the IFZA premises, attended by Jochen Knecht, CEO of IFZA and Amit Malhotra, Global Head of Retail Banking at ADIB. Under the agreement, companies incorporated within the IFZA ecosystem will gain access to ADIB’s banking services, including streamlined account opening processes, exclusive financing options, and personalized advisory support enabling them to thrive in UAE’s dynamic business environment.

Through this partnership, trade license holders within the IFZA will have access to ADIB's diverse range of business banking products and services. This includes a wide selection of business accounts packed with great features and benefits, as well as a complete suite of bespoke digital banking solutions that have been tailored to meet the unique needs of SMEs. By tapping into ADIB's banking solutions, IFZA is reinforcing its commitment to becoming a one-stop solution for global entrepreneurs and investors.

Commenting on the partnership, IFZA CEO Jochen Knecht, said, “At IFZA, we have always focused on creating a supportive environment for businesses to grow. Our partnership with ADIB aligns with this vision of providing businesses with comprehensive financial solutions that meet the evolving needs of our partners and reflects our commitment to unlocking new opportunities for IFZA licensees. With this partnership, we aim to create a seamless ecosystem that supports entrepreneurs and investors in achieving their business goals.”

Commenting on the MoU, Amit Malhotra, Global Head of Retail Banking, commented: “At ADIB, we are committed to supporting the UAE’s entrepreneurial ecosystem by offering innovative and Sharia-compliant financial solutions tailored to the needs of businesses. This partnership with IFZA underscores our dedication to simplifying banking processes and empowering businesses with the tools they need to thrive. By combining our expertise in Islamic banking with IFZA’s dynamic Free Zone community, we aim to foster economic growth and create value for entrepreneurs and investors in the UAE.”

The partnership aims to streamline business processes for IFZA license holders by accelerating account setup and simplifying documentation requirements. It also offers customised financing solutions tailored to the unique needs of businesses, supported by dedicated teams providing strategic insights to navigate the financial landscape effectively.

As the UAE continues to attract global investors and entrepreneurs, such partnerships play a critical role in strengthening the country’s position as a leading business destination. By combining IFZA’s robust Free Zone infrastructure with ADIB’s financial expertise, the collaboration aims to provide businesses with the tools they need to grow and succeed.