Agreement between "Abu Dhabi Islamic" and"Dubai Economy and Tourism" To support small and medium enterprises
ABU DHABI, 13 JULY / WAM / Abu Dhabi Islamic Bank and the Department of Economy and Tourism in Dubai announced the launch of the DET Connect account within the framework of the department’s SME in a Box initiative, with the aim of empowering small and medium-sized companies by providing an integrated digital banking solution designed to meet their needs.
By combining the banking expertise of Abu Dhabi Islamic Bank and the strategic role played by the Department of Economy and Tourism in Dubai to enhance business competitiveness, the account allows small and medium-sized companies in Dubai to focus on innovation and growing their business, instead of being preoccupied with administrative procedures.
The SME in a Box initiative aims to accelerate and simplify the establishment of companies and doing business in Dubai, while reducing the costs associated with that, by providing a unified and simplified access point to a set of basic services, including support for issuing licenses, banking services, digital payments, logistics services, communications, and other operational solutions, through a selected network of reliable service providers, which saves entrepreneurs from searching independently for a number of providers, comparing their services, and completing contracting procedures with them.
The DET Connect account, which was developed by Abu Dhabi Islamic Bank in cooperation with the Department of Economy and Tourism in Dubai, contributes to removing the most prominent challenges facing new companies when starting their business, by providing a bank account without a minimum balance, with an exemption from fees during the first six months, and the possibility of completing the account opening procedures within one working day through smooth and fast digital procedures.
This solution also allows companies to benefit from a full range of integrated banking services, including personal and business accounts, point-of-sale solutions, trade finance solutions and foreign exchange services.
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