Dubai: Commercial Bank of Dubai (CBD), one of the leading banks in the UAE, has won the “Outstanding Supply Chain Finance Solution” Award during the 2022 Middle East & Africa Innovation Awards virtual event, organized by ‘The Digital Banker’.
The Digital Banker awards recognize and celebrate the world's preeminent Financial Services organizations that are pioneering unrivalled standards and capabilities in their respective fields. The awards programs are globally acclaimed and co-judged by leading consultancies and reporters who are subject matter experts in Retail Banking, Private Banking, Transaction Banking, Investment Banking, Corporate Banking, Asset Management and Insurance, to ensure full transparency and an impartial assessment.
Dr. Bernd van Linder, Chief Executive Officer of Commercial Bank of Dubai, commented: “We are proud to be recognised as a leader and innovator in Supply Chain Finance solutions. This award is an affirmation of CBD’s exceptional trade and transaction banking services as well as the innovative nature of our products and solutions. We continue to embrace innovation and technology to enhance our capabilities, the effectiveness with which we serve the market and to manage customer experience. We look forward to building on the momentum we have achieved as we continue to back our customers’ ambitions.”
Ali Imran, Chief Operating Officer at CBD, added: “We are delighted that our innovative supply chain finance solution has been recognized by reputable industry experts. CBD has been working relentlessly to combine innovative products with world-class service to provide customers with exceptional and seamless banking services. We will continue to ride the wave of disruption by providing innovative payment solutions as part of our ‘Default Digital’ strategy”.
CBD’s Supply Chain Finance platform, the first of its kind in Middle East, provides both Buyer and Seller Led Supply Chain Finance solutions through a single portal for corporates. To ensure compliance with local data regulations, the solution has been deployed using Microsoft Azure’s UAE cloud. The platform is also capable of handling clients and their counterparts located anywhere across the globe as the KYC metrics will be customized according to respective country’s regulatory requirements.
About Commercial Bank of Dubai:
Commercial Bank of Dubai was established in 1969 and is registered as a Public Shareholding Company (PSC). The Bank is listed on the Dubai Financial Market and is mostly owned by UAE Nationals, including 20% by the Investment Corporation of Dubai (ICD). Over the years, Commercial Bank of Dubai has built itself into a progressive and modern Banking institution, endowed with a strong financial structure and strong management, as well as a loyal and ever-increasing customer and correspondent base. Today CBD is one of the leading banks in the United Arab Emirates and offers its customers a full range of retail and commercial banking products and services.
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