SPC Free Zone and Mashreq Bank sign MoU

The agreement was formalised on the second day of the Sharjah Investment Forum and World Investment Conference (SIF-WIC 2025), in a signing ceremony that was attended by Saif Alsuwaidi, Director of SPC Free Zone; and Rajeev Chalisgaonkar, Head of Business Banking at Mashreq Bank.

Strengthening financial pathways for entrepreneurs and businesses

Under this partnership, SPC Free Zone members will gain priority access to Mashreq’s comprehensive suite of banking products, including streamlined business account setup, preferential terms, and digital-first banking tools designed specifically for startups and SMEs. The collaboration expands SPC’s ongoing efforts to simplify the setup journey for entrepreneurs, integrating financial support into its end-to-end business solutions ecosystem.

Commenting on the formalised partnership, Saif Alsuwaidi, Director of SPC Free Zone, stated: “This MoU marks another important milestone in our mission to empower businesses in Sharjah with the resources they need to thrive. By partnering with Mashreq Bank; one of the region’s most forward-looking financial institutions; we are ensuring that our members have swift, secure, and tailored access to banking services that match the pace of their ambitions. SPC Free Zone is home to over 16,000 companies from 168 nationalities, and we are committed to expanding our ecosystem with strategic partnerships that simplify doing business, accelerate growth, and strengthen Sharjah’s position as a hub for innovation and enterprise.” 

Mashreq, represented by Rajeev Chalisgaonkar, Head of Business Banking and NEO BIZ, said: “We are delighted to partner with Sharjah Publishing City to enhance opportunities for SMEs across the UAE. This strategic partnership underscores our steadfast commitment to empowering the businesses that drive our economy. By harnessing our best-in-class digital business banking solutions, we aim to deliver fast, seamless, and innovative services that help SMEs grow smarter, scale faster, and achieve sustainable success in the long term”.

Expanding business benefits

The integration between SPC Free Zone and Mashreq Bank will ensure that members have simplified onboarding for new accounts, quicker approvals, and customized finance solutions for growing enterprises. By bridging licensing, workspace solutions, and now banking facilitation, SPC aims to make Sharjah one of the region’s most business-ready ecosystems for innovators and entrepreneurs.

Hub for publishing, media, and creative industries

SPC Free Zone is a leading hub for publishing, media, and creative industries, and offers more than 2,000 business activities with licenses issued within minutes, flexible visa packages, and 100% foreign ownership for companies of all sizes. The free zone hosts a global community of startups from over 160 countries, supported by seamless access to local and international banking partners.