Abu Dhabi Global Market, the UAE capital's financial hub, has signed agreements with Abu Dhabi Islamic Bank (ADIB), National Bank of Ras Al Khaimah (RAKBank) and Wio Bank to launch programmes to support small and medium enterprises by using financial technology.
The partnership with ADIB and Rakbank will focus on addressing the needs of key financial organisations in Abu Dhabi by providing preferential banking services to businesses registered and licensed with ADGM, state news agency Wam reported on Friday.
With Wio Bank, the Abu Dhabi-based digital banking platform launched this year, ADGM signed a preliminary agreement to provide businesses with easier access to opening accounts, the report said.
The agreements were signed during the inaugural Abu Dhabi Finance Week.
"We are looking forward to witnessing the impact of these partnerships on long-term growth of SMEs in the UAE and beyond," said Dhaher Al Mheiri, chief executive of the registration authority at ADGM.
“We are delighted to partner with these leading financial institutions in the region to collaborate on mutually beneficial initiatives and empower ADGM’s community with dedicated banking services."
Using FinTech makes it easier to help finance-seeking SMEs connect with potential investors, which in turn supports economic growth and solidifies the local entrepreneurial industry.
SMEs are considered the backbone of any economy and have played a critical role in the UAE's private sector, making up a significant portion of businesses.
They are also key in the Emirates' goal of becoming the top nation globally for entrepreneurship.
The latest government data shows SMEs represent more than 94 per cent of all companies operating in the country, with 73 per cent in the wholesale and retail sector.
The financial solutions and expertise that will be provided to SMEs will "help them achieve their full potential", said Nasser Al Awadhi, group chief executive of ADIB.
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
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'Shakuntala Devi'
Starring: Vidya Balan, Sanya Malhotra
Director: Anu Menon
Rating: Three out of five stars
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
If you go
The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.
The rooms
Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.
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The specs
Engine: 2.4-litre 4-cylinder
Transmission: CVT auto
Power: 181bhp
Torque: 244Nm
Price: Dh122,900
UAE currency: the story behind the money in your pockets
