Mashreq Bank Teams Up with Sharjah Free Zone to Boost Startup Banking

Editorial Team

Last updated 27-10-2025

3 min

Sharjah Publishing City Free Zone and Mashreq Bank have signed an MoU to assist startups.

This agreement offers SPC members priority banking access and digital tools for young businesses.

SPC Free Zone already hosts over 16,000 companies from 168 nationalities.

Mashreq aims to help SMEs "grow smarter" and achieve sustainable success through this collaboration.

The partnership promises simpler account setups and faster, tailored financial solutions for new firms.

There’s something quietly reassuring about seeing a bank and a free zone roll up their sleeves together, especially when the goal is to make life easier for entrepreneurs. At the Sharjah Investment Forum and World Investment Conference (SIF-WIC 2025), Sharjah Publishing City Free Zone (SPC Free Zone) and Mashreq Bank put pen to paper on a memorandum of understanding (MoU) that aims to give startups and SMEs faster, smarter access to banking.

I’ve seen plenty of early-stage founders in the region struggle with basic bank onboarding—honestly, it can be a bit of a faff. This new agreement, signed by Saif Alsuwaidi, Director of SPC Free Zone, and Rajeev Chalisgaonkar, Head of Business Banking at Mashreq, is meant to tackle exactly that. Through the deal, SPC members will get priority treatment for opening accounts and favourable banking terms, together with digital-first tools designed for young businesses that don’t have time to wade through endless red tape.

Alsuwaidi described the move as a “milestone” in empowering Sharjah-based enterprises. He highlighted that over 16,000 companies from 168 nationalities already call the free zone home—pretty remarkable when you think about it. Mashreq, on its side, called the collaboration an extension of its mission to help SMEs “grow smarter” and “achieve sustainable success.” Big words, yes—but if they can follow through, that’s spot on for what the region needs.

The practical perks look promising: simpler business account setup, quicker approvals, and financing solutions that match the rhythm of growing firms. When I talk with founders through our work at Arageek, they often stress how banking delays can cripple cash flow in the early days. Linking free zone licensing, workspace, and banking into one streamlined process could save them invaluable time.

As many readers know, SPC Free Zone isn’t just another set of office buildings. It’s built itself into a hub for publishers, media players, and creative ventures, offering more than 2,000 activities plus 100% foreign ownership. Add in banking convenience through Mashreq, and the ecosystem becomes even more rounded. Still, I reckon execution will matter more than paperwork—startups can smell bureaucracy a mile away.

All in all, this partnership sounds like one of those steady, behind-the-scenes moves that can quietly shift the dial for small businesses. And if it helps even a handful of entrepreneurs dodge the usual financial headaches, that’s something to be chuffed about—even if, well… the fine print might take a bit of time to iron out.

(And yes, I definately think more such tie-ups could spring up across the MENA scene before long.)

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