Dubai Chambers has intensified its efforts to provide the business community with access to advanced and alternative banking services. This initiative is being driven through Memorandums of Understanding (MoUs) signed with four specialised fintech companies.
The collaboration aims to support local small and medium-sized enterprises (SMEs) by tackling key operational challenges and growth barriers through a variety of innovative financial solutions.
The MoUs, signed between Dubai Chambers and the fintech firms Mamo, Qashio, Pemo, and Vault, create a framework for joint efforts to deliver impactful services to Dubai’s business ecosystem. The partnership focuses on offering SMEs access to alternative savings accounts, corporate cards, working capital loans, and seamless online payment solutions—essential tools for efficiency and growth in today’s market.
Khalid AlJarwan, Executive Vice President of Commercial and Corporate Services at Dubai Chambers, commented, “Partnering with fintech companies is a crucial step toward building a more dynamic and inclusive business ecosystem. By giving SMEs direct access to advanced financial tools, we are removing barriers to growth and enabling them to scale more efficiently. This initiative reflects our ongoing commitment to boosting private sector competitiveness and reinforcing Dubai’s position as a leading global business hub.”
Under the MoUs, the parties will work together to host events and workshops that promote innovation and digital adoption. They will also develop tailored incentive programs and welcome offers to encourage SMEs to embrace modern financial tools, alongside educational initiatives and training sessions focused on financial automation and technology.
These partnerships promise tangible benefits for the SME community. Vault will help businesses earn competitive returns on idle funds, while Qashio and Pemo facilitate efficient spend management through instantly issued corporate cards. Meanwhile, Mamo will enable SMEs to centralise financial operations by offering seamless payment acceptance, spend management, and access to credit.
