Commercial Bank of Dubai inks partnership agreement with DMCC to provide banking services to their license holders

The agreement was signed between Dr. Bernd van Linder, Chief Executive Officer of Commercial Bank of Dubai and Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, Dubai Multi Commodities Centre

  
Commercial Bank of Dubai inks partnership agreement with DMCC to provide banking services to their license holders

Dubai: Commercial Bank of Dubai, one of the leading banks in the UAE, has recently inked a partnership agreement with the Dubai Multi Commodities Centre (DMCC), the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, to boost entrepreneurship and support business owners.

The partnership will enable DMCC trade license holders to leverage CBD’s banking products and services, including exclusive digital business accounts which can be opened instantly with zero balance options and a wide range of exclusive services tailored for all business needs.

The agreement was signed between Dr. Bernd van Linder, Chief Executive Officer of Commercial Bank of Dubai and Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, Dubai Multi Commodities Centre.

Dr. Bernd van Linder, Chief Executive Officer of Commercial Bank of Dubai, said: “At CBD, we believe that SMEs and entrepreneurs play a vital role in the growth of the national economy and it is imperative that they get the support they require to accelerate the growth of their businesses. With this partnership with DMCC, we are delighted to offer SMEs and entrepreneurs, holders of DMCC trade licenses, a seamless and instant banking experience, complemented with tailored solutions to fulfill their business requirements. Our agreement will enhance the ease of doing business in the UAE and will boost the SME ecosystem.”

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: “Being home to over 19,000 companies of all sizes from around the globe, supporting existing and new members in every way possible has always been a top priority for DMCC. We are committed to forming partnerships and leading initiatives aimed at enabling businesses to thrive in the UAE and beyond – cementing our position as a global trade hub and ensuring the UAE remains the destination of choice to do business. Through our partnership with the Commercial Bank of Dubai, we continue to enhance the ease of doing business, particularly for entrepreneurs and SMEs which without a doubt play a fundamental role in innovation and economic growth. We are proud to collaborate with CBD in helping them strengthen their financial position and in turn be able to operate efficiently and succeed.”The partnership agreement with DMCC is the latest in a series of partnerships that CBD continues to create as it aims to support the SME ecosystem through its partnerships with Dubai Economy and Emirates Development Bank most recently.

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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 Mr. Sandeep Poduval Shivram, Head of Marketing, Commercial Bank of Dubai on 04 – 2121899 or sandeep.poduval@cbd.ae 

About DMCC:

Headquartered in Dubai, DMCC is the world’s most interconnected Free Zone, and the leading trade and enterprise hub for commodities. Whether developing vibrant neighbourhoods with world-class property like Jumeirah Lakes Towers and the much-anticipated Uptown Dubai, or delivering high performance business services, DMCC provides everything its dynamic community needs to live, work and thrive. Made for Trade, DMCC is proud to sustain and grow Dubai’s position as the place to be for global trade today and long into the future. http://www.dmcc.ae 

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