Dubai Chambers has signed a memorandum of understanding with Emirates Islamic to give member companies easier access to Shariah-compliant banking, trade finance, cash-management and corporate-financing services.The agreement, announced on Wednesday, covers members of Dubai Chamber of Commerce and is intended to streamline access to financial products tailored to the operational and expansion needs of companies across the emirate. The two organisations said the arrangement would also support financial awareness through seminars, workshops and joint business forums.
Under the memorandum, Emirates Islamic will make available a range of Shariah-compliant products and services, including trade-finance facilities, cash-management solutions and corporate financing. Dubai Chambers said the collaboration was designed to help businesses manage liquidity, finance transactions and pursue growth with services aligned to their requirements.
Khalid AlJarwan, Executive Vice President of Commercial and Corporate Services at Dubai Chambers, said the agreement formed part of the organisation’s efforts to provide member companies with practical tools for growth and expansion. He said access to financial advisory services and Shariah-compliant financing could help businesses realise their potential and increase their contribution to Dubai’s economy.
AlJarwan said the partnership was also aligned with Dubai Chambers’ work to support innovation, strengthen financial awareness and improve the competitiveness of the private sector. The chambers have been expanding partnerships with financial institutions and other service providers to widen the range of assistance available to companies operating or seeking to establish in Dubai.
Vivek Shah, Head of Corporate and Institutional Banking at Emirates Islamic, said the bank aimed to support businesses through banking and finance solutions focused on growth, competitiveness and scale. He said the collaboration would combine customer-focused propositions with financial-awareness programmes for the private sector.
The agreement adds Emirates Islamic to a wider set of initiatives through which Dubai Chambers is linking member companies with financial and corporate services. On July 8, Dubai Chambers launched its Business in Dubai platform, a digital gateway offering companies access to value-added services from accredited partners. At launch, the platform offered 65 services across financial services, marketing and growth, technology, and testing, inspection and certification.
Dubai Chambers has also been developing digital channels for its members. Its DC Connect platform, launched in February, brought core chamber services into a single portal for more than 292,000 active members of Dubai Chamber of Commerce. Those services include membership administration, certificates of origin, document attestation, mediation, ATA carnets and access to Business Groups and Business Councils.
The latest banking agreement follows other partnerships intended to expand financial and commercial support for companies. Dubai Chambers signed a separate memorandum with Dubai Islamic Bank in October 2024 to facilitate account set-up and access to banking services for businesses operating in Dubai or entering the market.
Emirates Islamic is the Islamic banking arm of Emirates NBD Group and provides personal, business and corporate banking services structured in accordance with Shariah principles. The bank operates a network of branches and self-service banking machines across the UAE while also providing digital banking services.
The bank says its corporate and institutional banking business serves companies across sectors with financing, transaction-banking and trade solutions. The MoU does not alter regulatory or credit requirements, and access to products will remain subject to the bank’s eligibility, assessment and approval processes.
Dubai Chambers said the cooperation is intended to make it easier for member companies to identify financial services while reducing friction in accessing banking support for day-to-day operations and expansion.
For Dubai Chamber of Commerce members, the new arrangement is focused specifically on access rather than creating a new lending programme or announcing a dedicated financing pool. No funding amount, preferential lending rate or allocation target was disclosed with the memorandum.
The parties said their joint seminars and workshops would address financial awareness alongside business growth, giving participating companies opportunities to understand the available banking products and financing options. Joint business forums are also planned under the cooperation framework.
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