To support the business community…a memorandum of cooperation between Dubai South and Emirates NBD

Dubai South, the largest major urban project focusing on the aviation, logistics and real estate sectors, has signed a strategic memorandum of cooperation with Emirates NBD, the leading banking group in the Middle East, North Africa and Turkey region, with the aim of supporting the growth of small and medium-sized enterprises in Dubai South, and facilitating their access to a full range of banking services.

The memorandum was signed by Saif Al Ali, Director of Licensing and Free Zone Management at Dubai Aviation City Corporation, and Hamad Mohammed Zayed, Group Head of Business Banking at Emirates NBD.

Under this memorandum, Emirates NBD will work to support companies by simplifying the procedures for opening bank accounts for companies, in addition to providing banking solutions designed to meet the needs of growing businesses, which contributes to enhancing the readiness of companies and enabling them to focus on growth and expansion.

This partnership contributes to enhancing the ease of doing business within Dubai South, by accelerating access to basic financial services and raising the efficiency of procedures, reflecting Dubai South’s continued commitment to providing a flexible and growth-stimulating business environment.

Commenting on this step, Nabil Al Kindi, Executive Director of Dubai South, said: “This strategic partnership with Emirates NBD reflects our commitment to supporting entrepreneurs and SMEs in Dubai South, by providing an integrated system that enables them to grow, enhances the efficiency of their operations, and supports the long-term sustainability of their businesses. By facilitating access to basic banking services, we give our business community more space to focus on expansion and achieving its goals. At Dubai South, we continue to work on developing an integrated environment that supports entrepreneurs, in line with Dubai’s vision of Consolidating its position as a leading global business center.”

For his part, Hamad Mohamed Zayed, Group Head of Business Banking at Emirates NBD, said: “Emirates NBD continues to play a pivotal role in the growth and progress of Dubai and the United Arab Emirates in strategic sectors, reflecting its innovations and its role as a leading national bank in driving economic development. The bank is committed to providing an integrated and seamless banking experience that meets the needs of small and medium-sized companies and other companies operating in Dubai South, and keeps pace with their growing requirements. This partnership ultimately and directly contributes to achieving Dubai’s vision of doubling its economy by 2033, and consolidating its position as one of the three most important economic cities in the world.”

It is noteworthy that Dubai South is considered the largest integrated urban project in Dubai, and is based on the aviation and logistics system, and includes Al Maktoum International Airport. It has also been enhanced with a multi-modal transport infrastructure that connects various means of air, land and sea transport, providing an integrated environment for living, working and doing business.