Dubai: The Dubai Business Registration and Licensing Corporation (DBLC), a division of the Dubai Department of Economy and Tourism (DET), has achieved a significant milestone with its Dubai Unified Licence (DUL) initiative. This project has drastically reduced the time required to open a business bank account by 90 percent, slashing it from 65 days to a mere five.
According to Emirates News Agency, the DUL, a unique commercial identification introduced in 2023, was further enhanced last year with the Service Providers Project. This enhancement enables businesses to access a comprehensive range of services, including banking and utilities, through a unified system. Since its launch in October 2024, the initiative has facilitated the opening of over 3,000 new business bank accounts and updated more than 134,000 business banking profiles, underscoring its crucial impact on Dubai's trade and business ecosystem.
The DUL initiative accelerates access to banking and government services, thereby improving the ease of doing business in Dubai. It empowers entrepreneurs, small and medium-sized enterprises (SMEs), and investors to launch and expand their operations more swiftly and efficiently. This progress aligns with the objectives of the Dubai Economic Agenda, D33, which aims to double the size of Dubai's economy by 2033 and further solidify the emirate's status as a premier global business and leisure hub.
Ahmad Khalifa AlQaizi AlFalasi, CEO of DBLC, remarked that the DUL's efficiencies reflect Dubai's commitment to digital-first governance and bolster its global leadership in business ease. He emphasized the importance of collaboration between government bodies and the private sector in creating a transparent, investor-friendly environment that supports the D33 Agenda's goals.
AlFalasi highlighted that by streamlining critical processes and advancing digital transformation, the DUL makes it easier for companies to establish and expand in Dubai. He reiterated the importance of businesses in driving economic growth and mentioned that DBLC will continue to work with partners to enhance the platform's capabilities.
Several prominent banks, including Emirates Islamic Bank, Mashreq Bank, and Commercial Bank of Dubai, have integrated into the system. Beyond banking, DUL is expanding partnerships with government entities and financial service providers, such as the Ministry of Human Resources and Emiratisation (MoHRE), Dubai Electricity and Water Authority (DEWA), and Dubai Trade.
The DUL supports DET's broader goals of enhancing transparency, efficiency, and competitiveness in Dubai's business environment. By providing a unique, government-verified digital identity to businesses across mainland and free zones, the initiative accelerates banking processes, enhances transparency, strengthens compliance, and streamlines access to services.
Since its inception, over 900,000 DULs have been issued to businesses across Dubai, supporting DET's mission to foster innovation and investment, and reinforcing Dubai's reputation as an ideal city for living, working, and conducting business.