UAE-based law firm Habib Al Mulla and Partners has signed a Memorandum of Understanding (MoU) with Emirates NBD, a leading banking group in the MENAT region. The partnership is part of the law firm’s “Project 54” initiative, which is dedicated to providing comprehensive legal and financial support to Emirati entrepreneurs and their small and medium-sized enterprises (SMEs).
The “Project 54” Initiative
Launched in anticipation of the UAE’s 54th National Day in December 2025, Project 54 aims to provide crucial legal support to 54 Emirati-owned SMEs. The initiative is designed to build a stronger foundation for local businesses, aligning with the country’s broader economic diversification agenda. “Project 54 reflects our commitment to building sustainable enterprises,” said Dr Habib Al Mulla, Founder of Habib Al Mulla and Partners. “With the support of Emirates NBD, we are creating a stronger foundation for entrepreneurship that will contribute to the UAE’s long-term economic growth.”
Enhanced Financial And Legal Support
Through this collaboration, Emirates NBD will provide participating entrepreneurs with a suite of tailored financial services. These include a dedicated contact point for accelerated business account opening, access to preferential loans with flexible repayment terms, and expert guidance on navigating compliance requirements. Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, stated, “We are committed to nurturing the next generation of Emirati entrepreneurs by providing them with the financial tools and advisory support they need to succeed.”
Expanding The Partner Ecosystem
Emirates NBD joins a growing list of partners supporting Project 54, including Home Bakery, Habib Al Mulla Academy, Newrons, and HAMA Holdings. The initiative has already gained significant traction, with 35 Emirati entrepreneurs onboard. The addition of 17 startups from Emirates NBD’s own NDTI programme cohorts brings the initiative closer to its target of empowering 54 local businesses by the end of the year.
About Habib Al Mulla and Partners
Habib Al Mulla and Partners is a leading UAE-based law firm known for its expertise in litigation, arbitration, and corporate legal services. The firm is committed to supporting the local business community and contributing to the economic development of the UAE.
About Emirates NBD
Emirates NBD is a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region and a key participant in the global digital banking industry. The bank is a major player in the UAE’s corporate and retail banking sector and is actively involved in supporting the country’s SME ecosystem.
Source: Fintechnews Middle East
