Emirates Development Bank (EDB) demonstrated its commitment to driving economic growth and sustainability in Sharjah at the Sharjah Investment Forum (SIF 2024). As the UAE’s premier development bank, EDB plays a crucial role in promoting economic diversification and industrial growth across the emirates. Since April 2021, EDB has provided over Dh12 billion in financing, with Dh954 million directly supporting Sharjah’s economy and contributing Dh442 million to the emirate’s GDP.
During his participation at the forum, Ahmed Mohamed Al Naqbi, CEO of EDB, highlighted Sharjah’s potential as a hub for innovation and sustainable growth. He emphasized EDB’s dedication to supporting the emirate’s journey towards a diversified and future-ready economy. Al Naqbi mentioned the strategic partnership between EDB and Invest in Sharjah to drive economic growth and investment opportunities, showcasing the importance of collaborative efforts in achieving shared economic goals.
In a panel discussion on “Building Smart Economies,” Al Naqbi emphasized the banking sector’s essential role in fostering innovation and empowering SMEs. He showcased EDB’s AI Wave Program as a prime example of how the Bank leverages AI and data-driven insights to provide agile and tailored financing solutions. Al Naqbi reiterated EDB’s commitment to supporting businesses leading technological transformation, especially in sectors shaping the UAE’s future economy.
Al Naqbi outlined EDB’s unique approach to supporting SMEs in the digital age, providing them with the necessary financial tools and resources to thrive. This includes tailored financing solutions, streamlined banking processes, and essential non-financial support to help businesses adapt and succeed in a rapidly evolving digital landscape. EDB’s focus on supporting SMEs reflects its commitment to nurturing entrepreneurship and driving sustainable development in Sharjah and beyond.
The participation of EDB in SIF 2024 signals its ongoing dedication to promoting economic growth and investment opportunities in the region. By providing flexible financing solutions and fostering strategic partnerships, EDB continues to play a vital role in shaping a vibrant and resilient economy in Sharjah. Through its initiatives and programs, EDB aims to support businesses in embracing innovation, leveraging technology, and thriving in the ever-evolving economic landscape of the UAE.
In conclusion, Emirates Development Bank’s active involvement in events like the Sharjah Investment Forum demonstrates its unwavering commitment to driving economic growth, fostering innovation, and supporting SMEs in Sharjah and across the UAE. By focusing on providing tailored financial solutions and essential support services, EDB plays a pivotal role in shaping a diverse and future-ready economy, contributing to the overall prosperity and sustainability of the region. With its emphasis on collaboration and strategic partnerships, EDB continues to be a driving force in advancing economic development and creating opportunities for businesses to thrive in Sharjah and beyond.
