DIB, Mashreq Bank lead AED 18bn industrial financing for MoIAT

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Dubai – Mubasher: Dubai Islamic Bank (DIB) and Mashreq Bank jointly signed memoranda of understanding (MoUs) with the Ministry of Industry and Advanced Technology (MoIAT) to secure financing for boosting the industrial sector.

The ministry will allocate AED 10 billion from Mashreq Bank, AED 6 billion from Emirates Development Bank, and AED 2 billion from DIB as part of its ongoing partnership with MoIAT, according to a press release.

The agreements, signed during the fifth edition of Make it in the Emirates event, will provide access to competitive and flexible financing solutions to help companies of all sizes expand production and adopt advanced technologies while strengthening supply chains.

On its part, Mashreq Bank will provide green loans, green bonds, sustainability-linked loans and bonds, and supply chain financing programs, as well as trade finance services and financial advisory support.

The offerings aim to drive the growth of national industrial exports through the bank's international network.

Mashreq Group CEO, Ahmed Abdelaal, commented: “The UAE's ambition to lift the industrial sector's GDP contribution to AED 300 billion by 2031 is one of the most defining economic transformations of this decade, and Mashreq is fully committed to supporting this goal.”

“Through this MoU, we will deploy AED 10 billion of competitive financing over five years, spanning term financing, supply chain finance, and trade solutions delivered through our international network to give UAE industrialists the capital, the advisory, and the global reach they need to scale,” he added.

The CEO of Emirates Development Bank, Ahmed Mohamed Al Naqbi, said: “This initiative will support manufacturers in scaling their operations, enhancing competitiveness, and expanding into new markets, in line with the UAE’s economic diversification and efforts to reinforce its position as a global hub for advanced industry.”

Head of Business Banking at DIB, Saud Al Jassim, affirmed: “Through our collaboration with MoIAT under Make it in the Emirates 2026, DIB reaffirms its commitment to supporting national objectives and industrial enterprises with Sharia-compliant banking solutions that help strengthen their ability to grow, improve operational efficiency, and adopt advanced technologies, supporting the competitiveness of the industrial sector and enhancing its contribution to the national economy.”

Both DFM-listed banks recently disclosed their financial results for the first quarter (Q1) of 2026, with DIB recording net profit after AED 1.798 billion and Mashreq Bank generating AED 1.92 billion in net profits after tax.

Source: Mubasher Source: {{details.article.source}}