Al Maryah Community Bank (mBank) has entered into a Memorandum of Understanding with Dubai Multi Commodities Centre (DMCC). This collaboration aims to streamline the account opening process for businesses within DMCC through an Mbank integrated digital platform.
Utilising Mbank’s Corporate Platform, companies seeking to establish themselves in DMCC can now digitally complete their business bank account opening in six steps, within 48 hours.
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This account features no minimum balance requirements or monthly fees, providing businesses access to a comprehensive suite of secure, customised, and advanced digital banking solutions to propel their operations.
DMCC is an international business district and one of the world’s most interconnected free zones
With over 24,000 member companies, DMCC is a trade and enterprise hub for commodities and high-value services in Dubai, and worth 11% of all FDI inflows to the Emirate.
Entities based in DMCC can leverage the Mbank’s Corporate Platform, gaining access to a diverse array of offerings including current & savings accounts, online/mobile banking, the wages protection system (WPS), overdrafts, loans, and trade finance, among other services.
The Corporate Platform offers advanced functionalities like real-time account monitoring, customisable alerts and workflows, swift local fund transfers, standing order instructions, and automated payment tools. These features empower businesses to efficiently manage their financial operations, enhancing cash flow and overall financial performance.
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By GlobalDataAhmad Hamza, Executive Director of DMCC said, “Our partnership with Al Maryah Community Bank marks a strategic collaboration to further enhance the ease of doing business within DMCC. By harnessing the cutting-edge digital capabilities offered by Mbank, we empower businesses with access to agile solutions and streamlined processes, driving them towards accelerated growth and success. This partnership underscores DMCC’s vision of fostering a dynamic ecosystem where businesses thrive. We look forward to working together towards further enhancing the business environment and driving growth for our members”.
