His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, oversaw the signing of five Memoranda of Understanding (MoUs) between the Ministry of Industry and Advanced Technology (MoIAT) and several national banks in Abu Dhabi on May 21, 2025. The agreements involve First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, and WIO Bank. These partnerships aim to provide over AED 40 billion in competitive financing solutions to support the UAE’s industrial sector.
The MoUs are designed to encourage investments in industry and advanced technology, offer customized financing for small and medium-sized enterprises (SMEs), and enhance public-private partnerships. This initiative aligns with the UAE’s broader goals for industrial growth and sustainable economic development.
Representing MoIAT was His Excellency Omar Al Suwaidi, Undersecretary of the Ministry. Signatories from the partner banks included Fahad Al Shaer from First Abu Dhabi Islamic Finance, Abdullah Al Shamsi from ADCB, Ala’a Eraiqat from Abu Dhabi Commercial Bank Group, Mohammed Abdelbary from Abu Dhabi Islamic Bank, Hisham Al Qassim from Emirates NBD Group, and Jayesh Patel from WIO Bank.
These collaborations highlight MoIAT’s commitment to enabling financial access within the industrial sector. The initiative aims to foster entrepreneurship and support the expansion of industrial enterprises across the UAE.
HE Al Suwaidi stated: “The MoUs signed with the leading national banks today reaffirm our commitment to empowering the industrial sector through strategic collaboration with top financial institutions. These innovative financing solutions are designed to enable sustainable industrial growth, aligned with the UAE’s vision of a diversified, knowledge-based economy driven by innovation.”
He emphasized the importance of these MoUs in supporting SMEs by enhancing their ability to scale up operations and adopt advanced technologies.
Mohamed Abdulbari from Abu Dhabi Islamic Bank commented: “This MoU reflects our commitment to the growth of the UAE’s industrial and SME sectors through ethical, Sharia-compliant financing.” He added that ADIB is proud to collaborate with MoIAT in delivering banking solutions that align with national development priorities.
Hana Al Rostamani from First Abu Dhabi Bank expressed pride in strengthening their partnership with MoIAT: “Through this renewed AED 5 billion commitment, we will extend tailored financing to support all types of industrial enterprises.”
Ala’a Eraiqat from ADCB remarked: “ADCB is a proud supporter of Make it in the Emirates… We remain committed to working collaboratively with our partners.”
Shayne Nelson from Emirates NBD said: “Make it in the Emirates initiative is a unique project that will greatly benefit the industrial aspirations of the UAE for many years.” He noted that Emirates NBD is well-positioned to empower companies contributing to this vision.
Jayesh Patel from Wio Bank stated: “We are proud to support Make It in the Emirates through our partnership with MoIAT,” aiming to extend up to AED 1 billion in working capital for eligible corporates and SMEs.
These initiatives are part of a broader strategy aimed at advancing technological innovation and fostering economic resilience within the UAE’s industrial landscape.
