Dubai Chambers Signs Fintech MoUs to Expand SME Banking Access

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Dubai Chambers partners with four fintechs to broaden SME access to modern banking tools, cards, payments, and working capital.

Dubai Chambers has signed MoUs with four fintechs - Mamo, Qashio, Pemo, and Vault - to improve SME access to alternative banking tools.
The agreements cover corporate cards, alternative savings accounts, working capital loans, and online payment acceptance.
Vault will offer SMEs competitive returns on idle cash, while Qashio and Pemo focus on corporate card issuance and spend management.
Mamo, licensed by the DFSA within the DIFC, will provide integrated payments, spend management, and credit access for SMEs.
Dubai Chambers will support adoption through joint workshops, training sessions, and tailored incentive programmes with all four partners.
The initiative aligns with Dubai's digital transformation agenda and targets longstanding SME banking pain points.

UAE Fintech Regulatory Framework Sets the Stage for SME Finance Reform

Dubai's financial sector operates under a layered regulatory structure that includes the Central Bank of the UAE, the Dubai Financial Services Authority (DFSA) - which oversees financial services within the Dubai International Financial Centre (DIFC) - and the Financial Services Regulatory Authority (FSRA) in Abu Dhabi Global Market (ADGM). These frameworks have expanded progressively to cover digital payments, stored value facilities, and embedded finance, creating credible infrastructure for licensed fintechs to serve business clients. The UAE fintech regulatory framework has, in practical terms, opened the door for alternative providers to compete alongside traditional banks in serving SME working capital solutions and everyday treasury needs.

Within this environment, Dubai Chambers - the non-profit public entity mandated to support Dubai's standing as a global business hub - has formalised partnerships with four regulated fintech providers. The initiative targets a well-documented gap: many of Dubai's SMEs still encounter friction when accessing corporate banking products, flexible credit, and modern financial management tools through conventional channels.

Four Fintech Partners, One Structured Framework

Dubai Chambers has signed memorandums of understanding (MoUs) - formal agreements setting out the terms of collaboration - with Mamo, Qashio, Pemo, and Vault. Announced on 16 February 2026 and reported by the Dubai Media Office and Gulf Today, the agreements establish a coordinated framework for delivering alternative financial tools to small and medium-sized enterprises (SMEs) across the emirate.

Khalid AlJarwan, Executive Vice President of Commercial and Corporate Services at Dubai Chambers, described the move as "a vital step in our mission to create a more dynamic and inclusive business ecosystem." He added that the initiative removes barriers to growth by giving SMEs direct access to advanced financial tools and supports Dubai's broader private-sector competitiveness agenda. According to the Dubai Media Office, the MoUs also commit all parties to organising joint workshops, incentive programmes, and digital adoption campaigns for SME members.

What Each Fintech Partner Delivers

Each partner addresses a distinct operational need within the SME finance stack. The collaboration covers four core solution areas, according to TradeArabia and the Dubai Media Office.

Vault - higher-yield alternative savings accounts that allow businesses to earn competitive returns on surplus cash, rather than leaving idle funds in standard current accounts.
Qashio and Pemo - instant issuance of physical and virtual corporate cards, combined with per-card spending limits, merchant-category controls, approvals workflows, and accounting integrations to help finance teams manage company expenditure.
Mamo - an integrated platform covering payment acceptance, spend management, and access to credit. Mamo holds a licence from the DFSA to offer regulated payment services within the DIFC, positioning it as a compliant provider for businesses operating in or through Dubai's financial free zone.

Pemo positions its platform as an all-in-one system, integrating cards, invoice processing, expense management, and accounting software synchronisation. Mamo's corporate card product offers cashback on spending, real-time transaction visibility, and support for foreign currency payments, with PCI-DSS (Payment Card Industry Data Security Standard) certification for security compliance.

Targeting Structural SME Banking Challenges

Dubai Chambers has framed the initiative as a direct response to persistent structural challenges facing SMEs. According to Economy Middle East, these include delays in opening corporate accounts, limited access to flexible working capital, and few options for earning returns on corporate cash reserves. The fintech partners' digital-first onboarding and modular product designs are intended to close these gaps more efficiently than traditional bank channels typically allow.

Training sessions focused on financial automation and technology will run alongside product access, addressing a capability gap the Chamber has identified in addition to the product access gap itself. The Chamber intends to leverage its network of member companies, business councils, and international offices to drive awareness and adoption across its SME base.

Policy Signal for Corporate Services Providers

For corporate-services professionals - including company formation agents, outsourced CFO practices, and SME advisers - this initiative carries a clear strategic signal. By formally aligning with licensed fintech providers, Dubai Chambers is indicating that fintech-based treasury tools, corporate cards, and working-capital solutions are becoming standard components of the Dubai business infrastructure, not optional additions.

The initiative sits within Dubai's broader digital transformation agenda, which prioritises private-sector competitiveness and innovation. For advisers helping clients set up or scale in Dubai, the Chamber's coordinated access point to four complementary fintech solutions offers a practical route to embedding modern financial infrastructure from an early stage of operations.