Dubai South, the master-planned city and economic zone, has signed a strategic Memorandum of Understanding (MoU) with Emirates NBD to simplify and speed up access to financial services for the growing number of SMEs and companies operating within its ecosystem. The agreement aims to remove common banking hurdles for new and existing businesses in the free zone.
Quick Facts
- Strategic MoU signed with Emirates NBD.
- Aims to streamline corporate bank account opening.
- Supports SMEs within the Dubai South ecosystem.
Streamlining Financial Access for Businesses
Under the new agreement, companies based in Dubai South will benefit from a streamlined process for opening corporate bank accounts and gain access to banking solutions tailored to their specific business needs. This collaboration is designed to improve the ease of doing business within the urban development by providing faster and more efficient routes to essential financial services.
The MoU was signed by Saif Al-Ali, Director of Licensing and Free Zone Management at Dubai Aviation City Corporation, and Hamad Mohamed Zayed, Group Head of Business Banking at Emirates NBD.
In his comments, Nabil Al Kindi, Group CEO of Dubai South said: “This strategic collaboration with Emirates NBD reflects our mandate to support entrepreneurs and SMEs at Dubai South by providing an integrated ecosystem that enables business growth, operational efficiency and long-term success. By facilitating seamless access to essential banking services, we are enabling our business community to focus on growth and expansion. We remain focused on delivering an integrated ecosystem that supports our entrepreneurs and aligns with Dubai’s vision to strengthen its position as a global business hub.”
Fueling Dubai’s Economic Ambitions
The partnership is positioned as a direct contributor to Dubai’s broader economic strategy, particularly its goal to double the city’s economy by 2033. By creating a more business-friendly financial environment, both entities aim to bolster the strategic sectors operating out of Dubai South.
Hamad Mohamed Zayed, Group Head of Business Banking at Emirates NBD, said: “Emirates NBD continues to play a significant role in Dubai and the UAE’s progress in strategic sectors, reflecting its innovation and its role as a leading national bank in driving economic progress. The bank is committed to delivering a truly seamless end-to-end banking experience that complements SMEs and other businesses operating out of Dubai South, and caters to their evolving needs. Ultimately, this partnership directly contributes to Dubai’s vision to double its economy by 2033 and solidify its position as one of the top three economic cities globally.”
About Dubai South
Dubai South is a master-planned city built around an integrated aviation and logistics ecosystem, anchored by Al Maktoum International Airport and supported by seamless multi-modal connectivity across air, land, and sea, creating a vibrant environment for living, working, and doing business.
About Emirates NBD
Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region with a presence in 13 countries, serving over 9.8 million active customers. As of 31st December 2025, total assets were AED 1.164 trillion, (equivalent to approx. USD 317 billion). The Group has operations in the UAE, Egypt, India, Türkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 787 branches and 4,526 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 4.54 billion.
Source: Zawya
