Collaboration to provide integrated digital and secure business banking solutions

In a significant move towards advancing digital banking solutions for the private sector, the Ajman Chamber of Commerce and Industry has inked a Memorandum of Understanding with Al Maryah Community Bank (Mbank), a pioneering digital banking institution in the UAE. This strategic partnership aims to provide seamless and secure banking services to members of the Ajman Chamber's private sector establishments and entrepreneurs.

The signing ceremony took place at the Chamber's headquarters, attended by prominent figures including Engineer Abdullah bin Mohammed Al Muwaiji, Chairman of the Ajman Chamber's Board of Directors, and Mohammed Wassim Khayata, CEO of Al Maryah Community Bank. Also present were key representatives from both entities, highlighting the significance of this collaboration.

This collaboration aims to deliver integrated banking solutions tailored to the needs of business owners and private sector establishments. Through Mbank's online corporate platform, entrepreneurs will have the opportunity to open business accounts swiftly and efficiently, completing the process in just six simple steps, with zero minimum balance requirements and no monthly fees. The streamlined digital experience promises account setup within a record time of 20 minutes.

Abdullah Al Muwaiji commended Al Maryah Community Bank for its innovative approach to banking, leveraging cutting-edge technologies like artificial intelligence to enhance services for private sector businesses. He emphasized that this memorandum lays the groundwork for launching innovative programs and events aimed at bolstering business sustainability, fostering growth, and enhancing investment attractiveness.

Furthermore, Al Muwaiji underscored the importance of collaboration between the Ajman Chamber and financial institutions to develop innovative services that support economic development in the emirate and promote the growth of private sector establishments.

Through Mbank's corporate platform, businesses of all sizes, from sole proprietorships to corporations, will gain access to a comprehensive suite of banking products and services. These include online and mobile banking, savings and checking accounts, wages protection system (WPS), overdrafts, loans, and trade finance, among others. Advanced features such as real-time account monitoring, customizable alerts, immediate fund transfers, and automated payment tools empower businesses to optimize their financial operations and improve cash flow.

To enhance the overall customer experience, Mbank offers an advanced digital connect service, allowing business owners to engage with customer service agents via secure live video calls. This innovative approach eliminates the need for paperwork or physical branch visits, ensuring seamless assistance and support whenever needed.

Mohammed Wassim Khayata, CEO of Al Maryah Community Bank, expressed pride in partnering with the Ajman Chamber of Commerce and Industry, highlighting their shared commitment to community development. He emphasized the bank's dedication to supporting local companies in Ajman, providing them with the necessary banking and investment tools to thrive.

Khayata reiterated the bank's confidence in its smart, innovative, and fully digital financial solutions, aligned with the UAE's vision for a digital economy. The partnership with the Ajman Chamber of Commerce and Industry, he believes, will pave the way for the growth and success of businesses in Ajman and the broader UAE community.