Full Breakdown
Strategic Partnerships to Enhance SME Growth in the UAE
10/23/2025, 1:16:53 PM
Shams and RAKBANK Collaboration
Sharjah Media City (Shams) has entered into a strategic partnership with the National Bank of Ras Al Khaimah (RAKBANK) aimed at bolstering financial access and growth opportunities for start-ups and small and medium-sized enterprises (SMEs) across the United Arab Emirates. This collaboration will enable Shams-licensed businesses to benefit from a range of financial advantages, including the ability to open business accounts within 72 hours, access to a leading digital banking platform, competitive interest rates of up to 2.5%, and business loans of up to AED 5 million. Rashid Sahoo, Director of Operations at Shams, emphasized the partnership's goal of simplifying the entrepreneurial journey and fostering an environment conducive to innovation and ambition.
Enhancements in Trademark Services
In a separate initiative, the UAE Cabinet has approved new fees for trademark services provided by the Ministry of Economy and Tourism, which includes significant exemptions for SMEs and People of Determination. This decision aims to strengthen the UAE's intellectual property framework and enhance its appeal as a global hub for innovation and investment. Abdullah Ahmed Al Saleh, Under-Secretary of the Ministry, noted that the new fee structure will facilitate trademark registration and improve service quality for SME owners. The reforms include a 50% partial exemption on trademark service fees for SMEs and a full exemption for People of Determination.
Impact on the Entrepreneurial Ecosystem
The partnership between Shams and RAKBANK, along with the updated trademark services, reflects a broader commitment to supporting the UAE's national vision of becoming a global center for entrepreneurship, creativity, and innovation. Emad Ahmed, EVP and Head of Commercial Banking at RAKBANK, stated that the collaboration aims to provide entrepreneurs with the necessary tools to establish, manage, and scale their businesses effectively. The UAE's intellectual property framework has also seen significant growth, with a 129% increase in trademark registrations in the first half of 2025 compared to the previous year.
Criticism & Opposition
While the initiatives have been largely welcomed, some critics argue that the effectiveness of these measures will depend on their implementation and the actual accessibility of the financial products and services to SMEs. Concerns have been raised about whether the benefits will reach the intended recipients, particularly smaller businesses that may still face barriers in accessing capital.
Verbatim Quotes
- “Rashid Sahoo, Director of Operations at Sharjah Media City (Shams), stated, "At Shams, we are dedicated to simplifying the entrepreneurial journey and fostering an environment where innovation and ambition can flourish.” — Rashid Sahoo, Director of Operations at Sharjah Media City
- “ Emad Ahmed, EVP and Head of Commercial Banking at RAKBANK, added, "We are delighted to partner with Sharjah Media City (Shams) to support the UAE's vibrant start-up and SME community.” — Emad Ahmed, EVP and Head of Commercial Banking at RAKBANK
- “help them grow, improve the quality of services offered to customers, and expedite procedures, thereby facilitating the registration and follow-up of trademarks.” — Abdulla bin Touq Al Marri, Minister of Economy and Tourism
What's Next
Both Shams and RAKBANK plan to continue developing their partnership, focusing on enhancing the financial landscape for SMEs in the UAE. The Ministry of Economy and Tourism will also monitor the impact of the new trademark fee structure to ensure it meets the needs of the business community effectively.
