Latest news with #AhmedMohamedAlNaqbi
Web Release
24-05-2025
- Business
- Web Release
Emirates Development Bank Launches Game-Changing Digital Banking Platform to Empower UAE Entrepreneurs
On the final day of Make it in the Emirates 2025, Emirates Development Bank (EDB), the UAE's key financial engine for economic diversification and industrial growEmirates Development Bank (EDB), the UAE's key financial engine for economic diversification and industrial growth, has launched EDB 360, a groundbreaking, fee-free digital banking platform built to supercharge the ambitions of the nation's entrepreneurs and micro, small, and medium enterprises (mSMEs). Designed for growth from day one, EDB 360 breaks down the traditional barriers of business banking. With no fees, no minimum balance, and no red tape, it gives entrepreneurs what they need most: speed, simplicity, and full control. Through smart integration with key government entities, EDB 360 allows users to open an account in minutes – not days – freeing founders to focus on scaling their ideas instead of navigating paperwork. H.E. Ahmed Mohamed Al Naqbi, CEO of EDB, said: 'At EDB, our mission goes far beyond finance. We help businesses grow, because when they grow, the UAE grows. With EDB 360, we've created a zero-bureaucracy, high-impact platform that gives entrepreneurs the flexibility, tools, and tailored support they need to build the businesses of tomorrow. By removing friction and expanding access to capital and advice, we're helping turn bold ideas into real economic impact.' Launched in collaboration with leading government and entrepreneurship bodies – including the Ministry of Economy, Ministry of Industry and Advanced Technology (MoIAT), Sharjah Entrepreneurship Center (Sheraa), Khalifa Fund, and the Department of Economy & Tourism (DET) — as well as strategic ecosystem partners such as Visa, NymCard, Klaim, eFunder, Thoughtworks, and Trade Capital Partners. 360 connects users with the wider financial and startup ecosystem to help them access new opportunities and scale with confidence. From a single app, entrepreneurs can manage payroll, invoicing, and payments, monitor cash flow, and access a growing suite of value-added services — including smart integrations with fintech platforms and a dedicated EDB Concierge that offers real-time advice for setup and scale-up. Entrepreneurs operating in EDB's key sectors benefit from sector-specific guidance, tools, and financing options that accelerate growth while contributing to the UAE's broader economic vision. Now available on iOS and Android, EDB 360 is the UAE's next step in building a smarter, stronger startup economy. Learn more at
Fintech News ME
22-05-2025
- Business
- Fintech News ME
EDB and RAKBANK Launch AED 1 Billion Fund to Support UAE MSMEs
In a move to support MSMEs in the UAE, Emirates Development Bank (EDB) and RAKBANK have launched a joint financing initiative worth AED 1 billion. Announced during the Make it in the Emirates Forum at the ADNEC Centre in Abu Dhabi, the programme aims to improve access to funding for businesses in key national sectors. The co-financing arrangement, with AED 500 million contributed by each institution, is among the region's largest mSME-focused lending efforts. Funds will be made available through RAKBANK to provide customised financing solutions for enterprises operating in priority areas such as manufacturing, advanced technology, food security, renewable energy, and healthcare. The initiative also places emphasis on greenfield ventures and businesses in the Northern Emirates. Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank, stated: 'At EDB, we've committed more than AED 18.8 billion in financing since 2021 to accelerate economic transformation, and we know from experience that unlocking mSME growth is one of the most effective ways to strengthen our industrial base. This AED 1 billion co-financing platform is a signal that we are serious about empowering the entrepreneurs and manufacturers who will lead our economy into its next chapter.' Raheel Ahmed, Group CEO of RAKBANK, added: 'By joining forces with Emirates Development Bank, we're not just unlocking capital, we're creating real opportunities for entrepreneurs to grow, scale, and contribute to a more dynamic and sustainable national economy.' The co-lending structure will offer businesses access to financing at competitive rates and will incorporate performance benchmarks, such as allocation for businesses in Ras Al Khaimah, Umm Al Quwain, and Fujairah, and for ventures with national ownership. The focus will also remain on manufacturing and early-stage projects. As part of the agreement, RAKBANK will manage risk assessment and portfolio oversight and provide monthly performance updates to EDB. Both banks will work together on awareness campaigns and stakeholder engagement to ensure the programme's visibility and effectiveness. The AED 1 billion fund is expected to be deployed within 12 months.
Mid East Info
21-05-2025
- Business
- Mid East Info
EDB and RAKBANK Unveil Landmark AED 1 Billion mSME Fund to Supercharge UAE's Industrial Growth - Middle East Business News and Information
Landmark partnership unveiled at Make it in the Emirates to empower UAE-based micro, small and medium enterprises (mSMEs) in priority sectors Abu Dhabi, UAE – May 2025 – In a major boost for UAE-based micro, small and medium enterprises (mSMEs), Emirates Development Bank (EDB) and RAKBANK have announced the launch of a co-financing partnership totalling AED 1 billion to catalyse growth in national priority sectors. The landmark initiative was unveiled at the Make it in the Emirates Forum, held under the patronage of the Ministry of Industry and Advanced Technology (MoIAT) until 22 May at the ADNEC Centre, Abu Dhabi. This strategic collaboration marks one of the largest mSME-dedicated co-lending programmes of its kind in the region, designed to improve access to capital for businesses operating in manufacturing, advanced technology, food security, renewables, and healthcare — the UAE's most critical growth sectors. Backed by a 50/50 contribution – AED 500 million from EDB and AED 500 million from RAKBANK – the fund will be channelled through RAKBANK to deliver tailored financing solutions for mSMEs across the UAE, with a strong focus on supporting businesses in the Northern Emirates and greenfield ventures. H.E. Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank, said: 'This partnership with RAKBANK is a powerful example of what Make it in the Emirates was designed to achieve — coordinated national action that turns industrial ambition into reality. At EDB, we've committed more than AED 18.8 billion in financing since 2021 to accelerate economic transformation, and we know from experience that unlocking mSME growth is one of the most effective ways to strengthen our industrial base. This AED 1 billion co-financing platform is a signal that we are serious about empowering the entrepreneurs and manufacturers who will lead our economy into its next chapter.' Raheel Ahmed, Group CEO of RAKBANK, added: 'At RAKBANK, we have always believed that mSMEs are the backbone of the UAE economy. This AED 1 billion partnership fund is a bold step forward in our commitment to serve them better. By joining forces with Emirates Development Bank, we're not just unlocking capital — we're creating real opportunities for entrepreneurs to grow, scale, and contribute to a more dynamic and sustainable national economy.' The co-financing structure gives mSMEs access to liquidity at competitive rates and also sets clear impact benchmarks, including percentage allocation for businesses based in the Northern Emirates (RAK, UAQ, Fujairah) national owned business and prioritisation for manufacturing and greenfield ventures. The agreement reflects a broader effort by both institutions to deepen mSME support, foster economic diversification, and align with the UAE's industrial strategy and national development goals. The fund will be deployed within 12 months of the agreement, with RAKBANK overseeing risk underwriting and portfolio management, while providing monthly performance reports to EDB. Both institutions will collaborate on outreach, awareness, and stakeholder engagement to maximise visibility and impact. Through this initiative, EDB and RAKBANK are setting a new benchmark for public-private sector partnership, partnering to fuel innovation, job creation, and long-term value across the SME landscape. About Emirates Development Bank: Emirates Development Bank (EDB), the UAE's development bank, is a key financial engine for the UAE's economic development and industrial advancement. EDB provides financial and non-financial support to businesses of all sizes—from start-ups and SMEs to corporates—driving economic competitiveness across five strategic priority sectors: advanced technology, food security, healthcare, renewables, and manufacturing. As the first local bank in the UAE to be Great Place to Work-certified, EDB nurtures a high-trust, high-performance culture that drives both business growth and social impact. EDB was established under Federal Law by Decree No. 07 of 2011 issued by the late Sheikh Khalifa bin Zayed Al Nahyan and became operational in June 2015. About RAKBANK: RAKBANK, also known as the National Bank of Ras Al Khaimah (P.S.C), is one of the UAE's oldest yet most dynamic banks. Since 1976, RAKBANK has been a market leader, offering a wide range of banking services across the UAE. We're a public joint stock company based in Ras Al Khaimah, UAE, with our head office located in the RAKBANK Building on Sheikh Mohammed Bin Zayed Road. The Government of Ras Al Khaimah holds the majority of our shares, which are publicly traded on the Abu Dhabi Securities Exchange (ADX). RAKBANK stands out for its innovation and unwavering commitment to delivering awesome customer experiences. Our transformative digital journey aims to be a 'digital bank with a human touch,' accompanying you during key moments. With 21 branches and advanced Digital Banking solutions, we offer a wide range of Personal, Wholesale, and Business Banking services. Through our Islamic Banking unit, RAKislamic, we provide Sharia-compliant services to make your banking experience seamless, whether you visit us in person or online.
Zawya
20-05-2025
- Business
- Zawya
ADEX–EDB partnership to unlock AED 1bln in export financing for UAE industries
Abu Dhabi, UAE – Abu Dhabi Exports Office (ADEX), part of Abu Dhabi Fund for Development (ADFD), and Emirates Development Bank (EDB), the UAE's key financial engine for economic diversification and industrial transformation, have signed a strategic partnership agreement to deploy AED 1 billion over the coming years to UAE-based exporters and manufacturers. The agreement was witnessed by His Excellency Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, and His Excellency Mohammed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development and Chairman of the Exports Executive Committee at the Abu Dhabi Exports Office. It was signed by His Excellency Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank, and Khalil Fadel Al Mansoori, Executive Director of the Abu Dhabi Exports Office. Unveiled during the Make it in the Emirates, the agreement marks a strategic partnership between two of the country's most important export enablers. It will enable UAE companies, particularly private-sector manufacturers, to expand into global markets by supporting capital expenditure, accelerating export-led growth, and contribute to the UAE's economic diversification efforts. The strategic initiative is directly aligned with the UAE's National Strategy for Industry and Advanced Technology, which aims to increase the industrial sector's contribution to GDP, accelerate the adoption of advanced technologies and transform the UAE into a regional and global hub for future industries. Through this partnership, both institutions will combine their expertise and resources to deliver innovative financing tools tailored to the needs of local exporters, ensuring a robust support system that fosters long-term growth and global competitiveness. H.E. Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank, said: 'This partnership with ADEX gives UAE manufacturers with export ambitions the scale, certainty, and strategic backing they need to grow beyond borders. At EDB, we've already committed more than AED 18.7 billion in financing since 2021, helping to catalyse AED 64 billion in capital expenditure and supporting over 32,000 industrial jobs across the country. This agreement builds on that momentum, reinforcing our role as a national enabler of sustainable industrial growth and extending our support to the export-ready businesses shaping the next chapter of the UAE's economic story.' Khalil Al Mansouri, Executive Director of Abu Dhabi Exports Office, added: 'Our vision at ADEX has always been to position the UAE as a trusted and competitive global trade partner. This collaboration with Emirates Development Bank will directly support that goal by empowering UAE exporters with the financing required to access new markets and scale their operations. We are grateful to EDB for their partnership, and proud that this initiative reflects the UAE's growing maturity as an exporting nation where government entities work hand-in-hand to build the foundations of a diversified and resilient economy.' The initiative will be available exclusively to UAE-based private-sector corporates, with funding eligibility contingent on a core set of strategic criteria designed to maximise national impact. To qualify, companies must operate within the manufacturing sector and either generate or demonstrate a clear pathway toward export-based income, reinforcing the partnership's shared goal of accelerating the UAE's non-oil export growth. About Emirates Development Bank: Emirates Development Bank (EDB), the UAE's development bank, is a key financial engine for the UAE's economic development and industrial advancement. EDB provides financial and non-financial support to businesses of all sizes—from start-ups and SMEs to corporates—driving economic competitiveness across five strategic priority sectors: advanced technology, food security, healthcare, renewables, and manufacturing. As the first local bank in the UAE to be Great Place to Work-certified, EDB nurtures a high-trust, high-performance culture that drives both business growth and social impact. EDB was established under Federal Law by Decree No. 07 of 2011 issued by the late Sheikh Khalifa bin Zayed Al Nahyan and became operational in June 2015. For more details, visit or follow our social media channels: About ADEX Established by the Abu Dhabi Fund for Development (ADFD) in 2019, the Abu Dhabi Exports Office (ADEX) offers financing solutions to Emirati exporters to help increase the country's export volume and promote UAE export business in the global markets. ADEX's mandate includes providing credit facilities to overseas buyers and importers via direct and indirect loans and guarantees, thereby enhancing the export sector's pivotal economic role and promoting its global competitiveness. This is in line with the UAE's economic diversification strategy. The entity also seeks to expand the range of locally made exported goods and services, being among the main pillars of the country's sustainable development. For more details, visit or follow our social media channels:
Mid East Info
19-05-2025
- Business
- Mid East Info
ADEX–EDB Partnership to Unlock AED 1 Billion in Export Financing for UAE Industries - Middle East Business News and Information
Strategic agreement announced at 'Make it in the Emirates' to accelerate export growth and advance UAE manufacturing in line with the National Strategy for Industry and Advanced Technology. Abu Dhabi, UAE –May 2025 – Abu Dhabi Exports Office (ADEX), part of Abu Dhabi Fund for Development (ADFD), and Emirates Development Bank (EDB), the UAE's key financial engine for economic diversification and industrial transformation, have signed a strategic partnership agreement to deploy AED 1 billion over the coming years to UAE-based exporters and manufacturers. The agreement was witnessed by His Excellency Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, and His Excellency Mohammed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development and Chairman of the Exports Executive Committee at the Abu Dhabi Exports Office. It was signed by His Excellency Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank, and Khalil Fadel Al Mansoori, Executive Director of the Abu Dhabi Exports Office. Unveiled during the Make it in the Emirates, the agreement marks a strategic partnership between two of the country's most important export enablers. It will enable UAE companies, particularly private-sector manufacturers, to expand into global markets by supporting capital expenditure, accelerating export-led growth, and contribute to the UAE's economic diversification efforts. The strategic initiative is directly aligned with the UAE's National Strategy for Industry and Advanced Technology , which aims to increase the industrial sector's contribution to GDP, accelerate the adoption of advanced technologies and transform the UAE into a regional and global hub for future industries. Through this partnership, both institutions will combine their expertise and resources to deliver innovative financing tools tailored to the needs of local exporters, ensuring a robust support system that fosters long-term growth and global competitiveness. H.E. Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank, said: 'This partnership with ADEX gives UAE manufacturers with export ambitions the scale, certainty, and strategic backing they need to grow beyond borders. At EDB, we've already committed more than AED 18.7 billion in financing since 2021, helping to catalyse AED 64 billion in capital expenditure and supporting over 32,000 industrial jobs across the country. This agreement builds on that momentum, reinforcing our role as a national enabler of sustainable industrial growth and extending our support to the export-ready businesses shaping the next chapter of the UAE's economic story.' Khalil Al Mansouri, Executive Director of Abu Dhabi Exports Office, added: 'Our vision at ADEX has always been to position the UAE as a trusted and competitive global trade partner. This collaboration with Emirates Development Bank will directly support that goal by empowering UAE exporters with the financing required to access new markets and scale their operations. We are grateful to EDB for their partnership, and proud that this initiative reflects the UAE's growing maturity as an exporting nation where government entities work hand-in-hand to build the foundations of a diversified and resilient economy.' The initiative will be available exclusively to UAE-based private-sector corporates, with funding eligibility contingent on a core set of strategic criteria designed to maximise national impact. To qualify, companies must operate within the manufacturing sector and either generate or demonstrate a clear pathway toward export-based income, reinforcing the partnership's shared goal of accelerating the UAE's non-oil export growth. About Emirates Development Bank: Emirates Development Bank (EDB), the UAE's development bank, is a key financial engine for the UAE's economic development and industrial advancement. EDB provides financial and non-financial support to businesses of all sizes—from start-ups and SMEs to corporates—driving economic competitiveness across five strategic priority sectors: advanced technology, food security, healthcare, renewables, and manufacturing. As the first local bank in the UAE to be Great Place to Work-certified, EDB nurtures a high-trust, high-performance culture that drives both business growth and social impact. EDB was established under Federal Law by Decree No. 07 of 2011 issued by the late Sheikh Khalifa bin Zayed Al Nahyan and became operational in June 2015. About ADEX: Established by the Abu Dhabi Fund for Development (ADFD) in 2019, the Abu Dhabi Exports Office (ADEX) offers financing solutions to Emirati exporters to help increase the country's export volume and promote UAE export business in the global markets. ADEX's mandate includes providing credit facilities to overseas buyers and importers via direct and indirect loans and guarantees, thereby enhancing the export sector's pivotal economic role and promoting its global competitiveness. This is in line with the UAE's economic diversification strategy. The entity also seeks to expand the range of locally made exported goods and services, being among the main pillars of the country's sustainable development.
