Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), the integrated free zone technology park, today signed a partnership agreement with Noor Bank. The agreement names Noor Bank one of the strategic partners of the Dubai Technology Entrepreneur Campus (Dtec), the largest technology hub in the Middle East that is wholly owned by DSOA, and mandates the bank to extend greater convenience, financial advice and best-in-class services to technology entrepreneurs and emerging companies that use Dtec as a platform to launch their innovations and projects.

The agreement was signed by William Chappell, Chief Financial Officer at DSOA, and Sami Al Awadi, Chief Compliance Officer and Head of Government Relations at Noor Bank, at Dtec’s stand No. C5 at the Future Stars Hall, Dubai World Trade Centre on the sidelines of GITEX Technology Week 2018 that is currently underway in Dubai.

Under the three-year renewable agreement, Noor Bank can educate Dtec’s members about the customized and value-added financial services it offers via Dtec’s website. Noor Bank is also mandated to sponsor and participate in several events and share its expertise at training workshops and programs that are organised at Dtec to empower entrepreneurs and emerging businesses. Furthermore, Dtec’s members can benefit from 100 hours of complementary financial advice annually from Noor Bank’s experts with regard to operating their businesses and projects.

William Chappell, said: “DSOA is keen to partner with leading institutions locally and regionally to enhance entrepreneurship, and enable SMEs and startups in the technology sector in Dubai and the wider UAE. Providing specialized banking consultations and smart financial services to Dtec members in collaboration with Noor Bank will contribute to achieving the goals of the Smart Dubai initiative that seeks to make Dubai the smartest and happiest city in the world. These goals are aligned with the objectives of the National Agenda of the UAE Vision 2021 to achieve a truly advanced and diversified economy.”

Usman Khakwani, Head of Business Banking at Noor Bank, said: “Noor Bank is pleased to enter into this partnership with DSOA to benefit Dtec’s tech entrepreneurs. This agreement is in line with our overarching strategy to support SMEs in their business needs and we are confident the move is a step forward in establishing Noor Bank as the bank of choice - particularly for SMEs.”

A wholly-owned entity of the government of Dubai, DSO operates as a free zone technology park for large enterprises, medium and small companies looking to set up their offices in Dubai.