ADDED signs agreements with 4 banks to provide “easy payment plan”

As part of its efforts to support business owners and ensure ease of doing business in the Emirate, the Abu Dhabi Department of Economic Development (ADDED) has signed 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 installments ranging from 3 to 12 months.

ADDED’s recent initiatives to enhance the business ecosystem, included reduction of requirements to set up business by 71.3% and fees to issue and renew licenses were reduced by over 94% as part of ‘Investor Journey’ programme, which aim to improve ease of doing business and strengthen Abu Dhabi status as preferred global destination for business and investments.

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

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

The easy payment plan enables ADDED’s customers to pay fees of issuing and renewing commercial and industrial licenses and other services by credit cards in ADDED centers or digital channels and then dividing them into installments ranging from 3 to 12 months with minimum value of AED1000 for services provided by ADDED.