MOU For Young Entrepreneurs’ Funding in DED-Ajman


DED-Ajman signed an MOU with Emirates Development Bank to strengthen mutual collaboration in the field of support and funding of young people of the emirate, with a view to developing the SMEs and promoting their contribution into national economy growth.

H.E. Ali Issa Al Nuaimi, Director General of the DED-Ajman said “DED is keen to strengthen its partnership and collaboration relations with various institutions in the UAE, in order to provide all support for SME’s owners. This MOU with Emirates Development Bank aims to provide the proper options for funding the enterprises registered in DED Tazeez Program so that they can contribute to the priority economic economies”.

On his part, Mr. Faisal Aqil Al Bastaki, Bank’s CEO said: “the Bank works within a clear vision and effective specific mission launched in collaboration with the strategic partners in support and development of SMEs and Entrepreneurships, being the cornerstone of promotion of diversification, sustainability and national economic growth”.

“we constantly work to provide the best banking solutions that encourage SMEs to effectively contribute to the non-oil GDP in line with the 2021 UAE Vision”, he added.

The MOU provides for the attraction of UAE entrepreneurs and promotion of innovative projects that have an added-value to the economy. The DED will coordinate with the Bank, nominate enterprises registered in “Taziz” Program to get soft finance at competitive rates pursuant to the Bank approved terms and conditions. The MOU also provides for mutual collaboration in terms of training, studies, and share of information on SMEs sector, in addition to the mutual marketing of services and initiatives supporting the young entrepreneurs through the different communication channels available within both parties.