Monday 15 August 2022 - 10:45:46 am

FAB fully digitises account opening process for UAE SMEs

ABU DHABI, 1st November, 2020 (WAM) -- First Abu Dhabi Bank, FAB, has announced complete digitisation of account opening process for Small and mid-size enterprises, SMEs, through the BASHER portal, becoming the first bank in the Middle East to achieve this milestone.

The Government of the UAE represented by the Department of Proactive Services - Ministry of Possibilities, MoP, launched BASHER to simplify the process of starting a business within 15 minutes without having to submit any documents or conduct any visits to a customer centre.

Basher offers a digital experience to explore the market, set up your business and obtain businesses licence and all 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 innovative solutions that complement BASHER services through virtually opening a corporate bank account within 24 hours without having to fill any forms. This innovative initiative is considered to be the first of its kind in the region.

Sara Al Binali, EVP, Head of Business Banking at FAB, said, "We continually seek to provide our customers with innovative solutions which help them grow their businesses and plan ahead with ease. This latest solution that we have developed in collaboration with our government partners will expand BASHER’s services providing SMEs across the UAE with a smooth and virtual experience when opening a business bank account."

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.