ADIB and Dubai DET Partner to Equip SMEs with a Foundational Business Success Toolkit - Business Today Middle East
Abu Dhabi Islamic Bank(ADIB) and theDubai Department of Economy and Tourism(DET) have introduced theDET Connect Accountthrough DET’s“SME in a Box”platform, providing small and medium-sized enterprises (SMEs). . .
Abu Dhabi Islamic Bank(ADIB) and theDubai Department of Economy and Tourism(DET) have introduced theDET Connect Accountthrough DET’s“SME in a Box”platform, providing small and medium-sized enterprises (SMEs) with an integrated, digital-first banking solution designed to simplify business setup and operations. The collaboration combines ADIB’s banking expertise with DET’s efforts to strengthen Dubai’s business ecosystem, enabling entrepreneurs to spend less time on administrative processes and more time growing their businesses and driving innovation. DET’s“SME in a Box”platform offers entrepreneurs a single gateway to essential business services, making it easier, faster and more cost-effective to establish and operate a business in Dubai. The platform provides access to licensing support, banking, digital payment solutions, logistics, telecommunications and other operational services through a network of trusted partners, eliminating the need to engage multiple service providers separately. As part of the initiative, theDET Connect Accountoffers a zero-balance business account with fee waivers for the first six months. Eligible businesses can complete the account opening process digitally in as little as one business day. The solution also includes a comprehensive range of financial services, including personal and business banking, point-of-sale (POS) solutions, trade finance and foreign exchange services, providing SMEs with the tools needed to manage and scale their operations efficiently. The partnership reflects ADIB’s continued commitment to supporting the SME sector through fully digitised, end-to-end banking experiences aligned with its Vision 2035 strategy. The bank aims to simplify financial management by offering an integrated platform that enables entrepreneurs to operate more efficiently while focusing on growth and innovation. SMEs remain a cornerstone of the UAE economy, accounting for94% of businessesand contributing more than53% of the country’s GDP. The UAE also aims to expand its business ecosystem to more thantwo million companieswhile fostering the growth of multiple unicorn startups.