Ajman Free Zone’s partnership with Mashreq Bank results in opening of more than 270 new corporate bank accounts

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  • AlSuwaidi: We will continue to provide support to investors and help enhance the local business environment to ensure UAE’s economic development
  • MoU facilitates access to integrated business solution in line with free zone’s pledge to offer value-added services

The Ajman Free Zone has announced that more than 270 new accounts at Mashreq Bank have been created under the names of companies with licenses issued by the free zone. The latest figure is the result of the Memorandum of Understanding (MoU) entered into by both parties to offer businesses operating in the free zone with a faster way to open a corporate account at Mashreq Bank. 

H.E. Eng. Ali AlSuwaidi, Director General, Ajman Free Zone, said that the collaboration is important to assist organizations in their business set-up through swift opening of accounts in key banking institutions in the UAE, as mandated by existing regulations and as required of businesses wanting to enter the country. The MoU not only prioritizes companies based in Ajman Free Zone but also facilitates easier and quicker bank account opening procedures.  

The free zone partnered with Mashreq Bank to provide stakeholders with exclusive benefits and offerings. The agreement demonstrates Ajman Free Zone ’s keenness to extend special and distinct services to its partners and investors, who can now enjoy priority and speed of services as a result of this joint effort. 

AlSuwaidi said: “We are delighted to continue our cooperation with Mashreq Bank, one of the leading banks in the UAE. Our mutually supportive and strategic partnership will be beneficial to the business community as well, as it helps companies save time and effort when opening corporate bank accounts. This cooperation is part of our promise to offer comprehensive package of incentives and facilities to attract more companies and investors to Ajman Free Zone and the whole of Ajman emirate.”

H.E. added: “We are moving forward with providing all forms of support to investors and companies. One support that we have been extending is the continuous establishment of an ideal environment for investment and doing business in Ajman and the UAE. We aim to enhance the competitiveness and attractiveness of the local business environment by offering value-added services and expanding the scope of our strategic partnerships with leading entities from various sectors. Through our initiatives, we will realize our vision and mission to contribute to the country’s sustainable economic development, as well as help lay a solid foundation for a more diversified and flexible local economic system.  Ultimately, we seek to cement the position of Ajman and the UAE as among the most preferred global destinations for business and investment.”

The Ajman Free Zone has been establishing new strategic partnerships with government entities, and private companies from various sectors, including banks, financial institutions, and professional and legal consultancy firms. This approach aims to provide a unified platform that allows companies operating in its premises to complete their regulatory and banking requirements quickly, easily, and efficiently. The free zone also supports its investors and entrepreneurs to develop and expand their businesses and commercial projects at the local and regional levels.