Khalifa Fund for Enterprise Development (Khalifa Fund) has signed a Memorandum of Understanding (MoU) with Al Maryah Community Bank (Mbank), to support Khalifa Fund entrepreneurs by offering them access to tailor-made, convenient and secure banking and financial services, helping them grow and manage their financials more efficiently.
Under the agreement, Al Maryah Community Bank will provide financing to eligible SMEs supported by the Khalifa Fund through a credit guarantee scheme. The bank will also offer a range of exclusive benefits to Khalifa Fund members when they open an account with Al Maryah Bank, including no minimum balance requirements, a free Wi-Fi Protected Setup (WPS) facility, access to a marketplace, a dedicated relationship manager, and innovative banking services. Additionally, members will enjoy lower fees and charges, faster processing times, and improved security.
“Khalifa Fund continues to explore new partnership opportunities that offer cutting-edge technologies and digital tools which empower the SMEs in the UAE to run their operations successfully. We are excited to partner with Al Maryah Community Bank. As leading providers of digital banking solutions, they will provide our members with digital banking solutions and explore financing opportunities to support their growth and improve the efficiency and security of financial transactions. Through this collaboration, we aim to support the growth of SMEs and the advancement of the entrepreneurial ecosystem in the UAE.”
Mr. Mohammed Wassim Khayata, CEO of Al Maryah Community Bank, commented that “We are proud to partner today with Khalifa Fund with the main focus of growing and serving the UAE community, especially UAE National SME owners. This partnership allows us to continue to fulfill our promise in meeting our community’s banking and investment needs by supporting entrepreneurs through a range of smart, innovative, convenient, and fully digital financing solutions; promoting the overall prosperity and growth of our economy in line with Abu Dhabi’s Economic Vision.”