Hub71 Collaborates with UAE Banks To Solve Banking Pain Points for Startups

Hub71, in partnership with Mashreq Bank, First Abu Dhabi Bank and financial regulators, have collaborated to identify and solve banking pain points that face startups.

The published whitepaper lists the challenges experienced by startups when setting up a UAE bank account and highlights its findings and recommendations for UAE banks.

The whitepaper also reveals that the average time for a startup to open a bank account in the UAE is 63 days which can be reduced to less than five days; and aims to roll-out a new banking solution for startups in Q4 2020.

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