DIGITAL FOCUS
The bank recently launched EDB Business Banking app in partnership with YAP, a UAE-based fintech, to support small and medium-sized enterprises operating in the UAE.
The EDB Business Banking app offers SMEs access to 24x7 secure, convenient, on-the-go digital banking services. With the app, the business account IBAN is reserved in minutes and account activation completed in 48 hours. The account is free, with no minimum balance criteria. “We have listened to SME’s challenges and have integrated every aspect of their needs into our business banking experience, completely transforming their ability to get their business up and running quickly and efficiently,” said Al Naqbi.
What is Emirates Development Bank?
Emirates Development Bank (EDB), headquartered in Abu Dhabi, was established under Federal Law by Decree No. 07 of 2011 issued by President His Highness Sheikh Khalifa Bin Zayed Al Nahyan. It became operational in June 2015. EDB offers financial and nonfinancial support to SMEs, start-ups and large corporates operating in strategic priority sectors in the UAE, as a step to boost their contribution to the country’s non-oil GDP.