[ad_1]
ABU DHABI, 16th May, 2023 (WAM) — Khalifa Enterprise Development Fund has signed a Memorandum of Understanding with Wio Bank PJSC, the region’s first platform bank, to support Khalifa Fund members in accessing fast, flexible And secure banking and financial services from Wio Business, the business banking app tailored for SMEs by Wio Bank.
Through the partnership, the two entities aim to provide SMEs, entrepreneurs and freelancers in Abu Dhabi and the wider UAE with smart business banking tools and financial solutions to help them manage and grow their businesses more efficiently.
Alia Al Mazrouei, Chief Executive Officer, Khalifa Fund for Enterprise Development, said, “Khalifa Fund is actively seeking valuable partnership opportunities to provide advanced technology and digital resources to support SMEs in the UAE, enabling them to conduct business successfully in a simplified and optimized A centralized solution for day-to-day processes, helping SMEs in the UAE to run their businesses and grow.”
Al Mazrouei added: “Our partnership with Wio Bank will provide our members with safe and efficient financial services through their digital banking solutions, while exploring financing options to support their growth. We are excited about this partnership and its Excited about the potential to support SME development and the UAE’s entrepreneurial ecosystem.”
Jayesh Patel, CEO of Wio Bank, said: “We are delighted to join forces with the Khalifa Enterprise Development Fund. We all share a common goal of empowering UAE businesses and facilitating their growth. Our overarching goal at Wio Bank is to Integrating the essential services that small and medium enterprises (SMEs) need to revolutionize their banking.”
Wio Business will provide Khalifa Fund members and partner companies with full digital account onboarding and opening with a minimum balance of zero, account access for multiple users, multi-currency accounts, free local transfers, free registration for payment gateways, unlimited instant virtual Cards, space for saving VAT, rent and other business needs, Wio business administrator assistance and more.
Apart from supporting SMEs to manage their business and achieve their financial goals through our suite of smart tools and services, Wio Business will also be offering a special promotion of 3-month free subscription plan to Khalifa Fund’s 3,600+ members and portfolio companies.
To further support the expansion goals and plans of the Khalifa Fund business, Wio will also explore with them opportunities for supply chain financing and other loan proposals.
Headquartered in Abu Dhabi, Wio Bank is jointly owned by Abu Dhabi Development Company (ADQ), Alpha Dhabi Holding, Etisalat (E&) and First Abu Dhabi Bank (FAB).
Under the agreement with Khalifa Fund, Wio Bank will offer a special promotion of 3-month free subscription plan to Khalifa Fund’s 3,600+ members and portfolio companies.
[ad_2]
Source link