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Ifza Dubai, the top free zone in the UAE, has partnered with Dubai Commercial Bank (CBD) to provide fast and convenient banking services and financial solutions to Ifza Free Zone companies.
Through this partnership, from July 2022, Ifza Free Zone companies will be able to conveniently and efficiently open special corporate bank accounts and receive personalised service through a dedicated on-site CBD relationship manager.
According to a study by the Dubai Chamber of Commerce, entrepreneurs face considerable challenges when trying to open a corporate bank account in the UAE. 65% of the entrepreneurs surveyed cited the banking sector as the biggest challenge for their company set up in the UAE. In a recent study by Ifza, 50% of respondents expressed similar sentiments, finding it challenging to open a bank account due to lengthy application processes, compliance difficulties or lack of information.
Recognizing the challenges facing entrepreneurs, Ifza’s priority remains to support its professional partners and licensees with bespoke services designed to make doing business as easy as possible.
Jochen Knecht, CEO of Ifza Dubai, said: “At Ifza, we actively listen to the needs of the Ifza Free Zone community to help strengthen their growth and alleviate any barriers entrepreneurs may face when starting a business. We are delighted to announce the establishment of a partnership with CBD The partnership provides additional support to our global network of professional partners through tailor-made packages for Ifza licensees to meet their needs and help them effectively open a corporate bank account in Dubai.”
“This service is designed for Ifza Partners to offer more to their own clients. This partnership will further enhance our offering to partners and licensees as we continue to expand our business ecosystem value-added services and support the Dubai economy by attracting foreign entrepreneurs to do business in Dubai seamlessly,” concluded Knecht.
Dr. Bernd van Linder, CEO of Dubai Commercial Bank, added: “Small businesses play a vital role as a driver of economic growth in the UAE, and the CBD is committed to supporting business owners and empowering entrepreneurs to achieve their ambitions.”
Through this partnership, Ifza Free Zone companies will have access to a range of innovative banking services from the CBD to help them meet their financial and business needs and make doing business easier. Through dedicated assistance, we aim to support and ensure licensees realize their vision and complement Dubai’s growing business hub. “
In order to realize the global ambitions of the enterprise, Ifza Dubai will soon launch more services and solutions to continue to support and support Ifza professional partners, licensed companies and entrepreneurs to create an ecosystem that offers various facilities, products and services system to ensure overall growth. – arab trade news agency
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