Dubai Chambers has partnered with Wio Bank to provide alternative banking services for its members, with a focus on helping small and medium-sized enterprises (SMEs) access digital banking and financing solutions.
The Memorandum of Understanding (MoU) between the two organisations will allow members of Dubai Chamber of Commerce to use Wio’s digital platform for business account opening and access credit solutions to support cash flow management and business expansion.
Digital banking
The partnership will offer SMEs a simplified digital account opening process and improved access to financial services designed to help businesses manage daily operations and growth plans.
The initiative is part of Dubai Chambers’ Alternative Banking Bundle, which connects businesses with financial partners offering services to support entrepreneurs and SMEs in Dubai.
Khalid AlJarwan, Executive Vice President of Commercial and Corporate Services at Dubai Chambers, said: “Our partnership with Wio Bank is a significant step forward in our mission to provide the business community with the tools they need to succeed. By simplifying access to digital banking and financing, we are empowering SMEs to unlock their full potential and contribute to Dubai’s dynamic economy. This initiative is aligned with our strategic goals to foster innovation and enhance the competitiveness of local businesses.”
Prateek Vahie, Chief Commercial Officer at Wio Bank, said: “We built Wio Business to make banking simple for SMEs, and this partnership extends that simplicity to Dubai Chambers’ members. From account opening to financing, our goal is to remove the barriers that slow businesses down, so they can focus on what matters: growing.”
Dubai Chambers said the collaboration aims to address the changing needs of the business community by making banking services more accessible for SMEs operating in Dubai.
tanvir@dubainewsweek.com
