ADIB Launches B2B Marketplace for Business Services in UAE

Abu Dhabi Islamic Bank (ADIB) launched a B2B marketplace designed to support small- to medium-sized businesses (SMBs) in the United Arab Emirates.

The new ADIB Business Souq gives businesses digital access to services and offers from businesses in the UAE, the financial institution said in a Wednesday (Jan. 10) press release.

“It is a one-stop platform that digitally connects [SMBs] with essential services such as accounting, HR, consultancy and IT, all digitally accessible,” Amit Malhotra, global head of retail banking at ADIB, said in the release.

SMBs can access the services and offers by visiting the platform and logging in with their UAE mobile number, name and one-time password, according to the release.

Once logged in, they can select an offer and fill out a request form, the release said. They can then track the progress of the request on the platform and will receive email and SMS notifications.

Within 48 hours, the partner brand will respond to the SMB’s request with a call to discuss the buyer’s requirements, apply a discount, finalize the pricing and send a confirmation email when the offer is active, per the release.

The ADIB Business Souq is available to all SMBs in the UAE; it is not exclusive to ADIB customers, according to the release.

“In addition to accessing a wide array of services and offers, business owners can also expect a ready community of suppliers, all available through this free-of-charge services,” the press release said. “Furthermore, new [SMB] customers can open an ADIB account instantly through a fully automated process.”

In another development aimed at helping SMBs in the UAE, Maalexi said Monday (Jan. 8) that it raised $3 million to continue building its cross-border trade platform for small agribusinesses in the country.

Maalexi’s platform connects buyers with sellers worldwide to reinforce the food supply chain and promote food security in the UAE and the greater Gulf Cooperation Council region.

In November, J.P. Morgan expanded its presence in the UAE by beginning to offer deposit-taking and payment processing to wholesale banking clients from the Abu Dhabi Global Market.

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