Home News ADDED signs agreements with 4 banks to provide ‘easy payment plan’

ADDED signs agreements with 4 banks to provide ‘easy payment plan’

by Dubai Forum
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ABU DHABI, 28th April, 2022 (WAM) — The Abu Dhabi Department of Economic Development (ADDED) has signed an agreement with First Abu Dhabi Bank (FAB), Abu Dhabi Commercial Bank (ADCB), Commercial Bank of Dubai (CBD), and Abu Dhabi Islamic Bank (ADIB) to provide “easy payment plan” service, enabling credit card holders issued by these banks to pay the charges for the services provided by ADDED in instalments ranging from 3 to 12 months.

ADDED’s recent initiatives to enhance the business ecosystem included a reduction of requirements to set up business by 71.3 percent, and fees to issue and renew licences were reduced by over 94 percent as part of “Investor Journey” programme. It aims to improve the ease of doing business and strengthen Abu Dhabi’s status as a preferred global destination for business and investments.

Ibrahim Al Mosa, Executive Director of Corporate Support Services Sector at ADDED, said, “We are committed to providing the best conditions for our customers and business community in Abu Dhabi. We have signed these agreements with leading UAE banks and will enlarge the base of banks providing this service.”

“Liquidity management is very important to businesses and easy payment plans provide a good opportunity to business owners, particularly micro and small enterprises, to settle fees of commercial and industrial licences and other ADDED’s services in instalments,” Al Mosa added.

The easy payment plan enables ADDED’s customers to pay fees of issuing and renewing commercial and industrial licences and other services by credit cards in ADDED centres or digital channels and then dividing them into instalments ranging from 3 to 12 months with a minimum value of AED1,000.

WAM/Rola Alghoul/Binsal AbdulKader

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