Dubai Silicon Oasis Authority (DSOA), signed a memorandum of understanding (MoU) with Mashreq Bank on the sidelines of GITEX Technology Week 2019, the 39th edition of the biggest tech event in the Middle East and North Africa. The two-year agreement names Mashreq Bank as a strategic partner of DSOA’s wholly owned Dubai Technology Entrepreneur Campus (Dtec), the largest tech hub in the Middle East region.
Hans Christensen, Vice President at Dtec, and Aref Al Ramli, Head of Digital Banking and Innovation at Mashreq, signed the MoU in the presence of senior management from the two entities at Dtec’s stand #D10 in Za’abeel Hall 4 at Dubai World Trade Centre.
Dtec’s members can benefit from Mashreq’s insights on financial management and banking processes related to financial practices, along with being introduced to Mashreq NeoBiz, the first digital business-banking platform in the UAE dedicated to SMEs – with the motto “Built for business”. NeoBiz is one of the several digital propositions Mashreq has developed to adapt to a rapidly-shifting banking environment and changing customer demands in various segments. This reinforces Mashreq’s position as a digital banking leader in the UAE and a key player in the regional banking industry.
Furthermore, Mashreq Bank is mandated to sponsor and participate in several strategic events such as the monthly entrepreneur workshops and share its expertise to empower entrepreneurs and emerging businesses in the UAE.
Speaking on the partnership, Hans Christensen, said: “At DSOA, we are keen to collaborate with innovative organizations that are pioneers in their respective fields and can support our entrepreneurs. As the largest and oldest privately held bank in the UAE, Mashreq Bank is one of the leading financial institutions in the country. The bank’s distinguished status makes it an ideal partner to offer Dtec-based startups advice on running a profitable business. We firmly believe that fintech-focused startups that are currently witnessing a high uptake in the region will benefit from Mashreq Bank’s expertise.”
Aref Al Ramli, Head of Digital Banking and Innovation, Mashreq Bank said: “From lending capital to technological access or providing the right advice to SMEs, it is evident that more needs to be done to ensure growth of SMEs in the UAE. As the largest hub of its kind in the region, Dtec provides unparalleled access to startups and entrepreneurs. It also serves as an ideal hub to highlight the benefits of banking soloutions geared towards SMEs such as our latest digital proposition NeoBiz. The new product leverages the latest technology and innovation, providing customers with solutions that bring value as well as enhance their convenience. Banking should not be a difficult experience for SMEs and at Mashreq, we remain highly committed to taking the hassle out of the process for entrepreneurs – by offering financial as well as advisory support to meet their needs.”
At GITEX Technology Week 2019, Dtec will participate in GITEX Future Stars, the Middle East, North Africa and South Asia’s biggest start up event. Through its participation, Dtec will support entrepreneurs in their bid to establish their business and see their innovations turn to reality.