First Abu Dhabi Bank Enables Fully Digitised Account Opening for SMEsby Fintechnews Middle East 2. November 2020
First Abu Dhabi Bank (FAB), has fully digitised its account opening processes for SMEs in the United Arab Emirates region through its BASHER portal.
The Government of the United Arab Emirates represented by The Department of Proactive Services – Ministry of Possibilities (MOP) launched BASHER.
The portal aims to simplify the process of starting a business within 15 minutes without having to submit any documents or conduct any visits to a customer center.
BASHER purportedly allows SMEs to explore the market, set up their business and obtain business licenses and supporting documents in simple steps, allowing investors to start their business immediately.
FAB has been working with the government entities over the past few months to provide solutions that complement BASHER’s services to virtually open a corporate bank account within 24 hours without having to fill any forms.
Salil Ahuja, SVP, Head of Business Banking Value Proposition at FAB, said:
“We are proud to associate with the launch of this integrated solution of ‘Digital signature authentication’ and a seamless, paperless full-fledged SME Digital account. Our collaboration with MOP and TRA is a testimony of the fact to support government initiatives and thereby accelerate the growth of SMEs.”
FAB recently launched its mobile wallet payit, in addition to finalising a number of key partnerships with businesses and government entities across the UAE to support the growth of digital financial services.
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