Dubai Chambers has officially signed a Memorandum of Understanding (MoU) with Dubai Islamic Bank (DIB) to enhance banking services available to the business community, supporting both local and global expansion for Dubai-based companies.
This collaboration aims to provide value-added banking services to local businesses and international firms establishing operations in Dubai. The agreement will facilitate the growth of companies operating in the emirate, contributing to their success in both local and global markets.
DIB will extend trade finance services to local companies looking to expand internationally through its extensive global branch network. Additionally, the bank will streamline the account setup process for multinational companies and SMEs. Dubai Chambers will assist DIB’s branch customers globally who wish to invest in Dubai, promoting business growth from the emirate.
The MoU is part of the Global Partnerships Programme, designed to accelerate business expansion and attraction efforts through collaborations across eight trade categories. This initiative aligns with the ‘Dubai Global’ initiative, spearheaded by Dubai International Chamber, aiming to attract foreign direct investment and facilitate the global expansion of Dubai-based companies in 30 priority markets.
Khalid Al Jarwan, Vice President of Operations at Dubai Chambers, emphasized the partnership's role in reinforcing Dubai’s status as a leading global business hub.
Sanjay Malhotra, Chief Consumer Banking Officer at DIB, highlighted the bank's commitment to providing comprehensive Sharia-compliant trade finance solutions tailored to meet the diverse needs of businesses.
The MoU with DIB will further bolster the Global Partnership Programme through Dubai Chambers’ 31 international offices, playing a pivotal role in achieving the goals set forth in the Dubai Economic Agenda (D33) to double the emirate’s economy over the next decade.
News Source: Emirates News Agency
