Meydan Free Zone, the world’s premier partner for 360-degree business setup services in Dubai, has entered into a Memorandum of Understanding (MoU) with Bank of Baroda, a leading financial institution in the UAE, to initiate a partnership focused on providing enhanced support for SMEs to thrive from Dubai.
According to Industry sources, this partnership displays a significant advancement in the sector and displays the commitment of both organizations to boost small and medium enterprises (SMEs) and foster sustainable economic growth.
Under the MoU, Meydan Free Zone and Bank of Baroda will leverage their combined expertise to boost Meydan Free Zone’s service offerings, catering to businesses both regionally and globally. This partnership will display a range of essential services, including banking solutions, financial support, regulatory guidance, and marketplace infrastructure.
Clients will benefit from integrated solutions like the company setup, instant bank account opening, visa and residency support, customs codes, import and export services, e-commerce solutions, and digital payment gateways. Bank of Baroda will provide tailored financial services designed to meet the diverse needs of all enterprises, thus aiding their establishment and growth in Dubai.
“We are excited to embark on this transformative partnership with Bank of Baroda,” stated Mohammed Bin Humaidan, Director of Leasing and Licensing at Meydan Free Zone. “This collaboration allows us to combine our strengths and create a supportive environment that enables SMEs to flourish, promoting sustainability and driving economic development. Together, we aim to generate new opportunities and elevate the overall business landscape in the region.”
In response, Jagdish Tungaria, Chief Executive-Bank of Baroda, GCC Operations, stated: “At Bank of Baroda, we are committed to supporting the financial needs of the business community in the region. Our partnership with Meydan Free Zone will enable us to provide SMEs with an array of financial products and services tailored to their unique needs, fostering their growth and contributing to the dynamic economy of Dubai.”
Industry sources further added that the partnership between Meydan Free Zone and Bank of Baroda is set to cultivate a thriving business ecosystem, empowering SMEs and promoting long-term growth.
