Dubai World Trade Centre (DWTC) Free Zone has signed a MoU with Wio Bank PJSC to provide digital banking services for companies operating within the free zone.

The agreement aims to streamline access to banking for businesses setting up or operating in the jurisdiction, including faster account opening processes, priority onboarding, and dedicated relationship support for eligible clients.

As part of the collaboration, DWTC Free Zone companies will be able to access Wio Bank’s digital banking solutions through the wider ecosystem of services offered to license holders.

Wio Bank will also engage with the business community through selected events and co-branded initiatives.

Abdalla Al Banna, VP of Free Zone Regulatory Operations at DWTC Free Zone, said:

“Through this partnership with Wio Bank, we are expanding the ecosystem of services available to companies within our Free Zone, enabling them to establish and scale more efficiently while reinforcing Dubai’s position as a global hub for entrepreneurship and investment.”

Prateek Vahie, Chief Commercial Officer at Wio Bank PJSC, said:

“Partnering with DWTC Free Zone allows us to support businesses at the moment they need it most. By offering faster onboarding, dedicated relationship support and intuitive digital banking tools, we aim to give DWTC Free Zone companies the confidence and clarity to manage their finances from day one.”

The partnership also includes plans to explore a co-branded DWTC Free Zone corporate card with tailored benefits for businesses in the ecosystem.

DWTC Free Zone said the initiative forms part of its broader efforts to improve its regulatory and commercial environment.

It recently introduced a Multiple Share Class Framework, allowing companies to issue a wider range of share classes to support different investment and governance structures.

Featured image credit: Edited by Fintech News UAE, based on image by SohagShantonur via Freepik