With the app, the business account IBAN can be obtained in minutes and account activation completed in 48 hours. The account is free to all, across all emirates within the country, and comes with no minimum balance criteria.
Through its partnership with YAP, EDB’s Business Banking app will offer a suite of banking facilities including a fully operational business bank account, bill payments, invoicing, budgeting, and analytics.
The launch of EDB’s Business Banking app follows agreement with leading UAE banks to provide credit guarantee schemes and co-lending agreements, aimed at offering direct and indirect lending to SMEs.
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