5:50 pm - February 14, 2026
First Abu Dhabi Bank (FAB), the UAE’s leading financial institution, has renewed its strategic partnership with the Ministry of Industry and Advanced Technology (MoIAT) by signing a Memorandum of Understanding (MoU) that aims to drive industrial transformation within the UAE. This significant agreement was formalised during the recent Make it in the Emirates Forum at the Abu Dhabi National Exhibition Centre. Under the terms of the renewed agreement, FAB’s total commitment to the industrial sector financing has now reached an impressive AED 10 billion since its initial pledge in June 2023.
The latest MoU represents a major extension of FAB’s early fulfilment of a prior AED 5 billion commitment, providing additional flexible financing solutions specifically tailored for industrial enterprises across different growth stages—from start-ups and small to medium-sized enterprises (SMEs) to larger manufacturers focused on innovation and sustainability. This initiative underscores the bank’s commitment not only to financing but also to fostering a competitive and future-ready industrial ecosystem within the country.
The signing brought together key figures, including His Excellency Omar Al Suwaidi, Undersecretary of MoIAT, and Fahad Al Shaer, CEO of First Abu Dhabi Islamic Finance. The partnership was also supported by representatives from other financial institutions such as Emirates NBD and Abu Dhabi Islamic Bank. This collaboration forms part of a greater vision to align financial support with the UAE’s National Strategy for Industry and Advanced Technology, aiming to boost investments and enhance the competitiveness of the industrial sector.
Speaking at the event, His Excellency Osama Amir Fadhel emphasised the ongoing commitment of MoIAT and its partners to support the industrial sector’s growth. He noted that the sector’s contribution to the national GDP is anticipated to reach AED 210 billion by the end of 2024. The financial enablers created through this partnership are crucial pillars aimed at empowering SMEs, enhancing their capacities, and supporting the overarching goals of the National Strategy for Industry and Advanced Technology.
Futoon Hamdan AlMazrouei, Group Head of Personal, Wealth, Business Banking, and Privileged Client Group at FAB remarked that demand from both entrepreneurs and established manufacturers has surged. She highlighted that the early execution of the initial financial pledge reflects the sector’s vibrancy and the effective partnership between FAB and MoIAT. “We remain committed to delivering smart, accessible, and sustainable financing that enables businesses to scale, innovate, and contribute meaningfully to the UAE’s industrial future,” she stated, affirming the bank’s focus on supporting the vision of the Made in the UAE initiative.
FAB’s financing framework is diverse, encompassing structured lending, capital investment avenues, business expansion support, and green financing solutions specifically designed for high-growth industrial ventures and SMEs. Beyond straight financial support, FAB is poised to collaboratively enhance industrial competitiveness by sharing its financial expertise and fostering innovation through knowledge-sharing initiatives.
This strategic partnership represents a crucial component of FAB’s broader mission to stimulate national development through financial solutions that create enduring value for businesses and communities alike. With a robust governmental agenda and an emphasis on public-private collaboration, the UAE’s industrial sector is on track to significantly enhance its contribution to the nation’s economy over the next decade, evidencing a dedicated push towards economic diversification and technological advancement.
As the largest bank in the UAE, First Abu Dhabi Bank continues to play a pivotal role in powering the country’s industrial growth, making a tangible impact on the national economic landscape.
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Source: Noah Wire Services
- https://blog.abudhabicityguide.com/fab-supports-uae-industry-with-aed-10-billion-total-commitment-in-partnership-with-moiat/ – Please view link – unable to able to access data
- https://moiat.gov.ae/en/media-center/news/2023/06/05/miite-forum—mou-with-fab – On June 1, 2023, the Ministry of Industry and Advanced Technology (MoIAT) and First Abu Dhabi Bank (FAB) signed a Memorandum of Understanding (MoU) to provide AED 5 billion in competitive financing solutions to investors in the industrial and advanced technology sectors. This partnership aims to support the ‘Make it in the Emirates’ initiative by offering structured financing, capital investments, business expansion support, and green financing to both local and foreign investors, with a focus on promoting sustainable development and technological adoption within the UAE’s industrial sector.
- https://www.wam.ae/en/details/1395303163978 – During the ‘Make it in the Emirates Forum,’ Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, announced AED 10 billion in new offtake agreements in the UAE’s industrial sector. This includes AED 5 billion from First Abu Dhabi Bank (FAB) and AED 1 billion from Mashreq Bank, aimed at supporting the growth and competitiveness of the industrial sector. The forum also highlighted the UAE’s commitment to sustainable industrial development and increasing the sector’s contribution to the national GDP.
- https://edb.gov.ae/posts/edb-commits-aed-5-billion-to-propel-uaes-manufacturing-sector-during-make-it-in-the-emirates-forum – Emirates Development Bank (EDB) announced a commitment of AED 5 billion in financing for 2024 to accelerate the growth of the UAE’s manufacturing sector. This initiative aligns with the UAE Industrial Development Strategy and aims to drive advancements in technology adoption, economic resilience, and diversification. The financing will support a wide range of manufacturing projects, particularly those incorporating advanced technologies, and is expected to make a significant impact on the UAE’s vision for a sustainable and diversified economic future.
- https://economymiddleeast.com/news/aed10-bn-in-new-offtake-deals-announced-at-make-it-in-the-emirates-forum/ – At the ‘Make it in the Emirates Forum,’ AED 10 billion in new offtake agreements were announced, including AED 5 billion from First Abu Dhabi Bank (FAB) and AED 1 billion from Mashreq Bank. These agreements aim to support the growth and competitiveness of the UAE’s industrial sector. The forum also highlighted the UAE’s commitment to sustainable industrial development and increasing the sector’s contribution to the national GDP, with a focus on innovation, sustainability, and the adoption of advanced technologies.
- https://www.khaleejtimes.com/business/uae-ministry-fab-partnership-to-offer-dh5-billion-financing-solutions-to-investors – The Ministry of Industry and Advanced Technology (MoIAT) and First Abu Dhabi Bank (FAB) entered a partnership to provide AED 5 billion in competitive financing solutions to investors in the industrial and advanced technology sectors. The MoU aims to support SMEs by offering industry-related advice, data sharing, and collaboration expertise. Through the ‘Make it in the Emirates’ initiative, MoIAT ensures competitive financing solutions with favorable profit rates and flexible repayment periods to promote investments in the UAE’s industrial sector.
- https://gulfbusiness.com/fab-to-provide-1-36bn-in-funding-solutions/ – First Abu Dhabi Bank (FAB) partnered with the Ministry of Industry and Advanced Technology (MoIAT) to provide AED 5 billion in financing solutions to local and foreign investors in the industrial and advanced technology sectors. The deal supports the ‘Make it in the Emirates’ initiative and aims to support small and medium-sized enterprises (SMEs) by offering industry-related advice, data sharing, and collaboration expertise. FAB will offer competitive financing solutions to support the adoption of advanced technology in the industrial sector.
