SPC Free Zone, Mashreq sign deal for banking services

Sharjah Publishing City Free Zone (SPC Free Zone), the first-of-its-kind hub for publishing, printing, and allied businesses in the creative industries, has signed a memorandum of understanding (MoU) with Mashreq Bank, to offer priority access to banking services to its investors, startups, and business owners, and further drive the growth of the free zone.

Salim Omar Salim, Director, SPC Free Zone, signed the MoU with Vikas Thapar, head of Business Banking and NEOBiz, Mashreq Bank.

Under the terms of the MoU, SPC Free Zone and Mashreq bank will collaborate to assist the free zone’s customers to open and operate bank accounts and gain easy access to an array of financial services offered by Mashreq. The bank will give preference to SPC Free Zone customers and expedite their account opening process.

“This MoU reinforces our mission to encourage and support our investors in all aspects of their journey with us. We are constantly looking at new ways of supporting our investors and partners, and joining forces with Mashreq bank testifies to our commitment to provide them with one-stop solutions that combine value and service to facilitate their growth and expansion, in the UAE and beyond,” Salim said.

Thapar said Mashreq has always been at the forefront of supporting SMEs and start-ups in the UAE.

“The partnership with SPC Free Zone reinforces our commitment to create a favorable environment for businesses to flourish and drive social and economic development in the emirate. Our digital banking proposition will enable SPC Free Zone to further support and empower entrepreneurs and SME owners to meet all their banking requirements digitally,” he said.

Leveraging Sharjah’s strategic location between east and west, SPC Free Zone has been playing a key role in bringing publishers from either sides of the world closer, propelling the entry and expansion of industry players into the Gulf, Middle East and North Africa regions. It offers businesses an advantageous free-zone business environment with numerous benefits including 100 percent foreign ownership, best-in-class infrastructure replete with fully-equipped office spaces, and comprehensive allied services like printing, licensing and distribution.

— muzaffarrizvi@khaleejtimes.com