DWTC Free Zone signs MoU with Wio Bank

By Aarav Garg

Dubai World Trade Centre (DWTC) Free Zone has signed an MoU with Wio Bank PJSC to expand access to digital banking services for businesses operating within its jurisdiction.

The agreement is intended to simplify banking processes for companies establishing or already based in the free zone. Firms registering with DWTC Free Zone will be able to access Wio Bank’s digital banking services as part of the broader business support ecosystem available to licensees.

Under the partnership, Wio Bank will provide streamlined account opening processes, prioritised onboarding, and dedicated relationship support for eligible clients. These measures are aimed at reducing friction during company formation and helping businesses begin operations more efficiently.

The collaboration also includes plans for Wio Bank to engage with DWTC Free Zone’s business community through events and joint initiatives. These activities are expected to focus on increasing awareness and adoption of digital banking tools among entrepreneurs, start-ups and established firms.

Abdalla Al Banna, VP of Free Zone Regulatory Operations at DWTC Free Zone, said, “Enhancing the ease of doing business remains a priority for DWTC Free Zone. Through this partnership with Wio Bank, we are expanding the ecosystem of services available to companies within our Free Zone, enabling them to establish and scale more efficiently while reinforcing Dubai’s position as a global hub for entrepreneurship and investment.”

As part of the agreement, Wio Bank will also explore introducing a co-branded corporate card for DWTC Free Zone companies, with features and rewards tailored to businesses operating within the ecosystem.

Prateek Vahie, Chief Commercial Officer at Wio Bank PJSC, said, “Partnering with DWTC Free Zone allows us to support businesses at the moment they need it most. By offering faster onboarding, dedicated relationship support and intuitive digital banking tools, we aim to give DWTC Free Zone companies the confidence and clarity to manage their finances from day one.”