Abu Dhabi Islamic Bank (ADIB), one of the leading Islamic financial institutions, and the Dubai Department of Economy and Tourism (DET) have launched a DET Connect Account under DET’s “SME in a Box” platform to empower small and medium-sized enterprises (SMEs) with a comprehensive, digitally native banking solution.
By combining ADIB’s financial expertise with DET’s strategic mandate to enhance business competitiveness, the DET Connect Account allows Dubai’s SMEs to focus on innovation instead of administrative tasks.
The “SME in a Box” platform is designed to make it faster, simpler, and more cost efficient for entrepreneurs to start and operate businesses in Dubai by providing a single, streamlined entry point to essential business services such as licensing support, banking, digital payments, logistics, telecommunications, and other operational solutions through a curated network of trusted providers, removing the need to independently source, compare, and onboard multiple vendors.
The DET Connect Account, the fully integrated offering from ADIB and DET, removes common barriers to entry for new businesses by providing a zero-balance account with fee waivers for the first six months. Businesses can open it in one business day through a seamless digital process.
The solution also provides businesses with a complete suite of services, including personal and business accounts, point-of-sale (POS) solutions, and trade and foreign exchange solutions.
This partnership is the latest demonstration of ADIB’s commitment to empowering SMEs as we deliver fully digitised, end-to-end customer journeys, in line with our Vision for 2035. ADIB continues to revolutionise the customer experience by living out our core value of ‘simple and sensible’. For today’s entrepreneurs and SMEs, this means providing a single, comprehensive solution. By seamlessly connecting every touchpoint, SMEs can manage their operations in a simpler, smarter, and more secure way so they can focus on growth and innovation from day one.
More than nine out of 10 (94%) of businesses in the UAE are SMEs, and they account for more than half (53%) of the UAE’s GDP. The UAE aims to be home to more than two million companies and nurture multiple unicorns.
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