The MoU was signed by Ahmed Al Motawaa, CEO of Khalifa Fund and Ashraf Bibars, SVP & head of UNB Retail Banking Group in a ceremony held at UNB head office.
The Khalifa Fund supports the SME sector and is committed to driving the adoption of an entrepreneurial culture among Emirati youth.
The fund will support businesses founded and nurtured by UAE nationals.
UNB will support UAE national entrepreneurs’ initiatives as well as the fund’s newly introduced finance for manufacturing projects.
Through the MoU, UNB will also receive the fund’s applications through its network of branches all over the UAE facilitating the submission of applications and supporting the fund’s mission of offering its service to all the Emirates.
UNB VP& departmental manager for SME business banking Essam Zahran said that UNB has always believed in the potential of young UAE nationals and proud to sign this MoU that brings together innovative UAE entrepreneurs and business leaders who can serve as sources of ideas and practical business advice.
"Through the MoU, UNB would like to reiterate its commitment to strengthening this sector in line with the UAE government’s vision," Zahran said.
