Abu Dhabi Global Market (ADGM) and First Abu Dhabi Bank (FAB), have signed a Memorandum of Understanding (MoU) to further support the growing needs of the commercial and financial community in Abu Dhabi.
The MoU aims to expand collaboration between ADGM and FAB and initiate preferential banking services, such as fast and efficient bank account opening, for ADGM-registered and licensed entities and dedicated client managers, among others.
This partnership between ADGM and FAB lays out a framework for both parties to facilitate knowledge exchange, develop ties in various FinTech initiatives, raise awareness, and support business development, education, and engagement. Moreover, the two parties seek to support each other’s key initiatives like the ADGM Digital Lab and co-organize appropriate industry workshops and corporate innovation programs.
Juma Al Hameli Chief Strategy & Business Development Officer ADGM
“ADGM is pleased to further our partnership with First Abu Dhabi Bank in better serving the fast-growing and thriving business ecosystem in ADGM. This MoU is an extension of the ongoing cooperation between the two organizations that are committed to the long-term development of the banking and financial industry in Abu Dhabi and the wider UAE. We look forward to working closely with the FAB team to contribute towards the sustainable growth of the Abu Dhabi economy.”
Mr. Mustafa Al Khalfawi, Head of Global Banking UAE & Global Head of Government, Sovereigns and Public Sector at FAB said that “We are committed to working alongside ADGM to advance the UAE’s dynamic business environment and to support thriving companies. FAB will provide ADGM registered entities an exceptional banking experience with tailor-made financial solutions and expertise that will take these businesses to new heights in the UAE and beyond.”
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