Mastercard and Abu Dhabi Global Market (ADGM) have announced a collaboration to fuel the growth of the booming small and medium enterprise (SME) sector in Abu Dhabi and the wider UAE by digitalizing SME payment flows. The partnership will empower SMEs to meet their growth potential through Mastercard’s technologies and resources.

Under the collaboration, Mastercard and ADGM will offer SME cards to qualified businesses. Mastercard and ADGM will work with its local banking partners to issue SME cards, which will offer a seamless and secure way to manage business expenses.

Beyond card offerings, small businesses can also participate in Mastercard’s SME business education program. In addition, where applicable, Mastercard will support relevant businesses through Start Path, its award-winning global startup engagement program that provides later-stage fintech startups with access to the company’s wide fintech portfolio and everything they need to grow quickly.

“At ADGM, we seek to play a prominent role in building a robust SME ecosystem in the UAE and creating a conducive environment for small businesses to succeed. Our partnership with Mastercard will allow us to provide SMEs with a curated value proposition that meets the full spectrum of their requirements so that business owners can focus on developing their offerings and pursuing new opportunities. We look forward to witnessing the long-term growth of the SME segment,” said Arvind Ramamurthy, Chief Market Development Officer, ADGM.

“SMEs are the backbone of the economy. In line with our commitment to driving financial inclusion, Mastercard has pledged to bring 50 million micro, small and medium enterprises worldwide into the digital economy by 2025. To achieve our target, we are connecting small business owners to the right tools and training while helping them pay and get paid securely, access capital and go digital wherever they are. We are excited to join forces with ADGM as we enable the UAE’s SMEs to grow and thrive,” said J.K. Khalil, Cluster General Manager, MENA East, Mastercard.

The UAE’s shift to a digital economy continues to accelerate as SMEs increasingly embrace digital payments. However, Mastercard’s research on SME awakening shows that many of them feel discouraged from using business payment solutions, and opt for personal banking products instead. Reasons include high fees, difficulty of use and the fact that some companies are simply not big enough to qualify for mainstream business banking. Almost 60% of SMEs worldwide still make most payments by cumbersome bank transfers (59%), while 51% prefer to use risky cash. To address these issues, Mastercard serves as a trusted provider of innovative solutions tailored to the needs of SMEs, ideally positioning them to diversify and expand.

SMEs are key drivers of economic diversification and digital transformation in the UAE. According to government data, they contribute 63.5% per cent to the nation’s non-oil GDP. The number of SMEs in the country is projected to hit 1 million by 2030.

Two UAE-based educators are championing construction play to manage the hardship of getting older and forge closer family ties

In most people, LEGO® bricks evoke happy memories of playing as a child with family and friends. But according to Saira Gulamani, a long-time UAE resident and teacher, these iconic building blocks are not just the toys of our early years. They are also vital tools to stimulate the minds of the elderly.

“LEGO bricks speak a language that everyone understands,” she enthuses. “They enable self-expression, creativity and problem-solving, all while having fun.”

A full-time robotics, coding and AI educator in schools across Dubai, Gulamani is also the founder of doyourbit.xyz, an online platform that provides classroom resources based on the pocket-size coding computer micro:bit for students of all ages. 

A trained LEGO bricks educator for the past eight years, Saira has developed a particularly strong interest in using construction play to help the elderly. She explains that LEGO bricks can be used to improve communication, memory, motor skills and most importantly, bonding with younger family members. This is a key consideration in the UAE, where elderly people tend to live with their families rather than in care homes.

“It’s incredible how LEGO bricks can help build memory in elderly patients,” she says. “They’re a great way to stimulate interest in learning exercises and group bonding. Everyone has a creative side and LEGO bricks are a simple and appealing way to bring it out into the open. Not everyone has the confidence or talent to sing, draw or paint. But all of us can express ourselves in some shape or form with LEGO bricks. That’s part of their beauty.” 

Global research by the LEGO Group reveals the therapeutic benefits of LEGO play for older people. According to the LEGO Group’s 2022 Play Well Report, 92% of adults in Saudi Arabia and 94% in UAE say that play is fundamental to their own happiness and 95% and 94% of those surveyed in Saudi Arabia and the UAE, respectively, add that playing with LEGO bricks helps to improve their mental health.

The only certified Six Brick facilitator in the UAE – a play method using LEGO bricks to improve memory, cognitive function and motor skills – Gulamani has been holding regular workshops at 4get_me_not, an Alzheimer’s patient support group in Dubai, since February. She also works with two other community groups in the emirate, including one which caters to elderly people of determination. 

“Seeing the joy on their faces when they create something with their own hands is priceless,” Gulamani says. “It’s like they’re kids again! The sessions have been extremely rewarding. Initially, we wanted to do a 45-minute session, but the group played for over two hours. In fact, their engagement levels seemed to increase the longer they played.”

Although founded to help elderly sufferers of Alzheimer’s disease, 4get_me_not now supports people with other mental health issues as well. 

“Neither getting old nor Alzheimer’s can deter our seniors from enjoying the things they used to love as a child,” says Desirée Vlekken, the group’s founder. “At 4get_me_not, we play chess and other popular board games to encourage socialising, boost serotonin levels and improve cognitive function. Thanks to Saira, we have also rediscovered the world of LEGO bricks.”

“So far, we’ve had two group sessions incorporating LEGO play,” Vlekken adds. “Just the sight of the colourful bricks is enough to bring out their inner child! It doesn’t take long before everyone is lost in a happy world of their own imagination.” 

“Rediscovering what it’s like to be young again is the ideal way to bring families closer together, especially our seniors, who are such an important part of the family unit,” Gulamani adds. “That’s what I love about the LEGO 0-99 philosophy. With no age and language barriers, construction play is truly accessible to all.”