Dubai, May 03, 2009: Dubai Trade, the innovative online service provider of Dubai World, and Insure direct (Brokers), Dubai, Dubai World's captive insurance broker, signed last week an agreement enabling the insurance broker's customers to make use of the trade facilitator's ROSOOM online payment gateway.

The ROSOOM platform offers electronic payment services for customers to make online transactions with leading Dubai World entities such as DP World, Dubai Multi Commodities Centre and Economic Zones World, as well as Dubai Customs.

The agreement was signed by Mahmood Al Bastaki, Director of Dubai Trade, and Kenneth George Maw, President and Chief Executive of Insure direct at Dubai Trade's premises in Jebel Ali.

Mahmood Al Bastaki, Director of Dubai Trade, said: "The agreement with Insure direct opens our online payment platform to the insurance brokerage firm's vast clientele, providing them with easy access to interact with some of the key commercial entities in Dubai, such as the port and the free zone. Dubai Trade has ensured the highest level of efficiency and user-friendliness for the portal to serve the trade community here. ROSOOM's increasing popularity is proof of its success in bringing the customers and these companies closer together, and thus facilitating easier and faster trade flow."

Kenneth George Maw, President and Chief Executive of Insure direct, said: "We are pleased to associate with Dubai Trade, which has set a new benchmark in electronic payment methods. Insure Direct's customer base is widening across the region and, as the company expands, we ensure that we serve them in the best possible way. The agreement with Dubai Trade will make it easy for a large number of our clients to liaise with some of the key entities that are part of their daily operations."

ROSOOM has become one of the most effective and popular online payment platforms accessed by the trading community in Dubai. It offers customers multiple transaction methods that enable real-time transfer of funds to settle their bills. This secure single-window electronic facility has helped them save time and cost. 

Since its inception in March 2008, through March 2009, ROSOOM facilitated 96,000 transactions totaling Dhs108,000,000, clearly reflecting Dubai Trade portal's rapid increase in service access and trade flow value.

Dubai Trade's innovative online payment concepts have played a key role in boosting Dubai's trade. Constant system upgrades keep ROSOOM current with changes in technology and user demand. The services cover the entire supply chain and bring together into a single community all the companies that interact with Dubai's ports, customs and the free zone for the purpose of trade.

Insure direct has taken a leading position in the UAE's insurance brokerage sector with a wide range of products covering trading industry and construction, shipping and aviation, professional and specialist, financial institutions as well as personal protection. The company's expansion strategy focuses on the need for new niche-specific schemes as well as the forging of strong local and global alliances.

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© Press Release 2009