Mbank & Khalifa Fund launch Corporate Banking Platform

By Arya M Nair, Official Reporter
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Khalifa Fund_Mbank partnership
Officials at MoU signing

Al Maryah Community Bank (Mbank), in collaboration with Khalifa Fund for Enterprise Development (KFED), has launched its Corporate Banking Platform.

The Platform offers all types of businesses the ability to open a fully digital business bank account through the Mbank UAE mobile application in six steps with zero minimum balance, and zero monthly fees, revolutionizing the banking process for its clients through next-generation digital banking solutions.

Mbank’s Corporate Banking Platform launches less than two weeks after Mbank and Khalifa Fund sign a Memorandum of Understanding (MoU), whereby Mbank continues its efforts to support National and Resident entrepreneurs by offering financing solutions to eligible SMEs supported by the Khalifa Fund through a credit guarantee scheme, including a range of exclusive benefits when they open an account such as no minimum balance requirements, access to a marketplace, a dedicated relationship manager, and innovative banking services.

Mr. Mohammed Wassim Khayata_Corporate Banking Platform launched
Mr. Mohammed Wassim Khayata
CEO – Mbank

“Our mission as part of our community initiative is to empower businesses to thrive by providing them with the tools they need to manage their finances efficiently and securely in a very fast-paced environment. We recognize the challenges that these businesses face, and accordingly, we have designed our Corporate Banking Platform to offer them new ways in which they can modernize their processes and have them facilitated to optimize their businesses and encourage growth.”

Mr. Alia Al Mazrouei, CEO of Khalifa Fund, stated that “The Corporate Banking Platform will provide businesses of all sizes with a simple and efficient way to manage their finances, as well as enable businesses to streamline their financial operations, which is crucial in today’s rapidly evolving business landscape. We look forward to continuing our partnership with Mbank and supporting entrepreneurs in the UAE with access to cutting-edge banking solutions.”

Related: Khalifa Fund supports 2 UAE businesses at ‘Make it in the Emirates Forum’