03-08-2025
Emirates Entrepreneurs Association signs MoU with RUYA Islamic Community Bank
Abu Dhabi- United Arab Emirates: As part of its ongoing efforts to expand support and empowerment opportunities for entrepreneurs in the UAE, the Emirates Entrepreneurs Association has signed a strategic Memorandum of Understanding (MoU) with RUYA Islamic Community Bank. This partnership aims to establish a framework for joint cooperation in providing innovative banking solutions tailored for small and medium enterprises (SMEs), while enhancing financial inclusion within the national entrepreneurship ecosystem.
The MoU was signed by His Excellency Thamer Alqasimi Manager of the Association, and His Excellency Christoph Koster, CEO of RUYA Islamic Community Bank.
A Strategic Partnership for Financial Empowerment and Banking Innovation
The MoU is designed to simplify the process of opening bank accounts for Emirati entrepreneurs who are members of the Association at RUYA Islamic Community Bank and to provide Sharia-compliant financial services that support the launch, growth, and sustainability of their ventures.
H.E. Thamer Alqasimi affirmed that this partnership responds to the need for banking partners who understand the unique challenges faced by entrepreneurs and offer solutions tailored to their realities. He added:
"Through this agreement, we aim to build a comprehensive support ecosystem that includes mentorship, training, and funding. We are pleased to collaborate with RUYA Islamic Community Bank, which has shown genuine commitment to supporting the new generation of Emirati entrepreneurs."
On his part, Mr. Christoph Koster expressed the bank's pride in this initiative, stating:
"RUYA Islamic Community Bank is committed to offering comprehensive banking solutions that meet the aspirations of entrepreneurs. This agreement marks a practical step toward empowering national businesses and providing a supportive banking environment for growth and expansion."
Key Areas of Cooperation
The MoU outlines several key areas of collaboration reflecting both parties' commitment to achieving sustainable and impactful outcomes, including:
Facilitating bank account openings for Association members who are business owners, in accordance with the bank's approved procedures.
Participation of bank representatives in events and activities organized by the Association to foster direct engagement with entrepreneurs.
Formation of a joint working team to monitor the implementation of the MoU and track progress.
Knowledge and best practices exchange between both parties in areas of mutual interest to drive innovation and continuous improvement.
Joint promotion of activities and services among the staff of both entities to raise awareness and encourage participation and engagement.
Toward a Resilient and Inclusive Business Environment
This partnership supports national efforts to enhance the entrepreneurial landscape and achieve the objectives of "UAE Vision 2031" in building a competitive, knowledge-based economy. It also contributes to eliminating financial barriers that entrepreneurs may face during the foundational and transitional phases of their ventures.
Through this agreement, the Emirates Entrepreneurs Association and RUYA Islamic Community Bank reaffirm their commitment to empowering Emirati entrepreneurs across various sectors, creating new economic opportunities, and strengthening the role of SMEs in contributing to national economic growth.
