• Hello Paisa is a world-class, cutting-edge custom-designed technology platform integrated with MNOs, retailers and banks across emerging markets to seamlessly connect to Money Transfer Operators worldwide.
  • The partnership enables CBD customers to send money to more than 60 countries, starting with remittances to Pakistan using the CBD Mobile App or Online Banking Platform.
  • The agreement was signed between Dr. Bernd van Linder, Chief Executive Officer of Commercial Bank of Dubai and Moosa Manjra, Chief Executive Officer of Hello Group.

Dubai: Commercial Bank of Dubai, a leading bank in the UAE, and Hello Paisa, a product of Daytona Capital Management Limited, a UK-based international money transfer company, announced an alliance that will facilitate real-time cross-border transaction flows between the UAE and the rest of the world.

The agreement was signed between Dr. Bernd van Linder, Chief Executive Officer of Commercial Bank of Dubai and Moosa Manjra, Chief Executive Officer of Hello Group, at a ceremony held at the Bank's Head Office in Dubai.

Commenting on the partnership, Dr. Bernd van Linder, Chief Executive Officer of CBD, said: "With the transaction value in the UAE Digital Remittances segment projected to reach US$6.32bn in 2022, providing our clients with a safe, secure and simple method to transfer money globally is a key priority for CBD. We are delighted to partner with Hello Paisa to enable our customers to leverage a cutting-edge, custom-designed technology platform to seamlessly transfer money in real-time to bank accounts, cash pick-up locations and mobile wallets using the award-winning CBD Mobile App or CBD Online Banking platform. 

Sohail Nizami, Executive Director – EMEA, Prepaid & Remittances at Hello Paisa, said: "Hello Paisa is delighted to partner with CBD and support their customers to send money to more than 60 countries, starting with remittances to Pakistan using the CBD Mobile App or Online Banking Platform. We both strive to provide customers with a fast, easy, and secure payment experience. We believe this strategic partnership can lead to more innovation in the remittance service and create a hassle-free remittance journey for customers".

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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. 

For additional information, contact CBD’s PR and Media team at PRandMedia@cbd.ae