Dubai Chambers is accelerating its initiative to modernize financial access for the emirate’s business community, signing Memorandums of Understanding (MoUs) with four specialized fintech firms. The new partnerships with Mamo, Qashio, Pemo, and Vault are set to expand advanced and alternative banking solutions for small and medium-sized enterprises (SMEs).
The agreements aim to address persistent operational and growth challenges faced by SMEs by widening their access to innovative financial tools. These collaborations will provide a framework for delivering essential services, including alternative savings accounts, corporate cards, working capital loans, and seamless online payment solutions, which are critical for scaling in a digital-first economy.
Empowering the Private Sector
Khalid AlJarwan, Executive Vice President of Commercial and Corporate Services at Dubai Chambers, framed the move as part of a larger strategy to fortify Dubai’s business landscape.
“This collaboration with fintech companies is a vital step in our mission to create a more dynamic and inclusive business ecosystem,” AlJarwan stated. “By providing SMEs with direct access to advanced financial tools, we are actively removing barriers to growth and empowering them to scale more efficiently. This initiative aligns with our commitment to enhancing the competitiveness of the private sector and solidifying Dubai’s position as a leading global business hub.”
Fostering Widespread Adoption
Beyond simply providing access to new products, the partnerships are designed to drive awareness and adoption. Under the MoUs, Dubai Chambers and its fintech partners will co-host events and workshops to encourage digital transformation and financial innovation among SMEs.
The initiative also includes tailored incentive programs and welcome offers to encourage businesses to transition to modern financial platforms. To further support companies navigating this shift, educational initiatives and training sessions will focus on financial automation and technology.
A Syndicate of Specialized Fintechs
Each fintech partner introduces a distinct value proposition to the ecosystem. Vault will enable businesses to generate competitive returns on idle corporate funds, while Qashio and Pemo will streamline spend management through the instant issuance of corporate cards. Mamo will offer SMEs an integrated platform that centralizes payment acceptance, spend management, and access to credit facilities.
This initiative highlights a broader trend across the UAE, where public-private collaboration is accelerating the adoption of fintech solutions to bolster SME resilience and competitiveness. By embedding digital finance more deeply into its business support framework, Dubai Chambers is positioning fintech as a core catalyst for sustainable economic growth.
About Dubai Chambers
Dubai Chambers is a non-profit public organization dedicated to supporting the growth and development of the business community in Dubai. It plays a pivotal role in creating a favorable business environment, providing value-added services, and promoting Dubai as a global business hub through its three distinct chambers: Dubai Chamber of Commerce, Dubai International Chamber, and Dubai Chamber of Digital Economy.
Source: Fast Company Middle East
