Ajman Free Zones Authority has forged a strategic partnership with ruya, the UAE’s pioneering digital Islamic bank, to offer comprehensive business banking services tailored for startups and SMEs. This collaboration aims to streamline the business setup process in the UAE, ensuring new enterprises can operate efficiently right from the start.
As part of this partnership, business customers will enjoy a seamless digital account opening experience, with no minimum balance requirements or hidden fees, reflecting ruya’s commitment to transparency and accessibility. The business banking services are designed specifically for micro, small, and medium-sized businesses, freelancers, entrepreneurs, and startups, empowering them to manage their finances effectively through ruya’s advanced business internet banking platform.
A key benefit of this collaboration is the immediate availability of bank account opening upon receipt of business licenses from any integrated free zone under the Ajman Free Zones Authority. This streamlined approach aims to facilitate smoother business operations and financial management, enabling companies to concentrate on growth and achieving their business goals.
As part of our intensive efforts to develop an integrated ecosystem to attract entrepreneurs and find proactive solutions that ensure they obtain the resources and support necessary for sustainable growth, and to contribute to advancing the economy in the emirate, the memorandum of understanding with ruya is considered an important step towards achieving these goals. This cooperation is expected to enhance financial and banking services and provide solutions that greatly simplify banking operations and procedures for new companies within our free zones, which will enhance the ease of doing business, empowering companies to concentrate on their growth and success.
His Excellency Ismail Al Naqi, Director General, Free Zones Authority of Ajman.
We are committed to extending our banking solutions to the business community, providing the same high standards of service and ethical Islamic banking principles that our individual customers expect. Our digital-first strategy ensures a seamless, user-friendly and efficient banking experience. Consistent with our commitment to transparency and accessibility, we have eliminated minimum balance requirements and hidden fees for business accounts.
Christoph Koster, CEO, ruya
Our partnership with the Free Zones Authority of Ajman demonstrates our dedication to supporting the UAE’s dynamic business environment. We aim to facilitate smoother business operations and financial management for companies within these free zones. This collaboration is intended to drive economic growth and create an efficient business environment in the UAE.
The collaboration between Ajman Free Zones Authority and ruya marks a significant advancement in bolstering the business environment, equipping startups and SMEs with essential resources to succeed. This joint effort underscores their shared dedication to fostering entrepreneurship and driving economic growth in the UAE.
