Dubai Chambers & EDB Join Hands to Boost SMEs and Startups

Dubai, UAE – In a move to boost local businesses, Dubai Chambers has signed a Memorandum of Understanding (MoU) with Emirates Development Bank (EDB). The agreement is aimed at helping startups and small and medium-sized enterprises (SMEs) in Dubai by providing easier access to funding, financial solutions, and support for both new and existing businesses.

The partnership will focus on offering financial help for companies’ day-to-day operations and capital expenditure needs. It also aims to make it simpler for entrepreneurs to open bank accounts in Dubai, whether they are local firms or international companies.

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The MoU highlights joint efforts to strengthen Dubai’s business environment and support companies in growing locally and globally. Both organizations will explore ways to provide tailored banking services, trade finance solutions, and other support to businesses looking to expand internationally.

Khalid AlJarwan, Vice President of Commercial and Corporate Services at Dubai Chambers, said, “We are dedicated to creating a strong support system for all businesses, especially startups and SMEs. Our goal is to provide the services they need to grow, compete, and succeed in Dubai and beyond, contributing to the UAE’s economy.”

Shaker Zainal, Deputy CEO & Chief Business Officer of Emirates Development Bank, added, “This partnership will help SMEs and entrepreneurs access the right tools, from financing to trade support, while simplifying banking through our EDB 360 digital platform. Together, we aim to boost innovation, competitiveness, and sustainable growth.”

This initiative also aligns with Dubai’s Economic Agenda (D33), which aims to double the emirate’s economy in the next ten years and position Dubai among the world’s top global cities. Dubai Chambers remains committed to attracting international businesses, promoting global expansion of its members, and supporting the growth of the digital economy.

With this new partnership, startups and SMEs in Dubai can expect easier access to funding, better financial services, and practical support to help their businesses grow faster.