Abu Dhabi Islamic Bank (Adib), a top-tier Islamic financial services institution, has been recognised as the Best Supporting Bank – SME Initiatives in the UAE by the Mohammed Bin Rashed Al Maktoum Award for Young Leaders.

The award was based on a survey where 70 per cent of respondents voted Adib as the bank that best caters to needs of young entrepreneurs and small- to medium-sized enterprises.

Initiated by The Mohammed Bin Rashid Establishment for Small & Medium Size Enterprises Development (MBRE), the awards aim to build and cultivate a competitive environment for entrepreneurs in the UAE as well as honour individuals and organisations for their contribution to the development of SME sectors.

Tirad Al Mahmoud, CEO of Adib, said: “Adib has been a major supporter and advocate of SMEs for many years in the UAE. With more than 230,000 SMEs contributing more than 40 per cent of the country’s GDP, Adib recognises their importance to the local economy and we have several initiatives in place and tailored SME banking services to enable business owners to reach their full potential.”

Adib is one of the first banks in the UAE to explore the niche SME segment. The bank’s strategy was aimed at attracting SMEs from day one by creating a one-stop-shop through dedicated business centres, where business owners can open an account, avail of transaction banking services and apply for financing with the assistance of a dedicated relationship manager.

Recently the bank also launched BusinessPulse – a unique portal offering business owners and entrepreneurs, access to information related to their day-to-day business as well as guidance and support for their long term growth and expansion strategies. – TradeArabia News Service