DUBAI, December 6, 2021 (WAM) – The Commercial Bank of Dubai (CBD), one of the main banks in the United Arab Emirates, recently signed a partnership agreement with the Jebel Ali Free Zone (Jafza), the main DP World shopping and logistics center to stimulate entrepreneurship and support business leaders.
The partnership will allow Jafza business licensees to benefit from CBD banking products and services, including exclusive digital business accounts that can be opened instantly with attractive features such as zero balance, a choice of six currency denominations. account and a wide range of exclusive services suitable for everyone. business needs.
The deal was signed by Amit Malhotra, Managing Director – Personal Banking Group at Dubai Commercial Bank and Ahmad Al Haddad, COO, Parks and Areas, DP World UAE at Jafza One.
Amit Malhotra, Managing Director of Commercial Bank of Dubai’s Personal Banking Group, said: “We are delighted to partner with Jafza in accordance with our commitment to supporting businesses in the United Arab Emirates. Through this partnership, existing and new business licensees for Jafza SMEs, will have access to innovative digital banking services backed by exceptional customer service, to meet all their financial and business requirements. knowledge-based economy contributing to the growth of the national economy.
Ahmad Al Haddad, COO, Parks and Zones, DP World UAE, said: “As an organization that promotes the ambition of UAE leaders to develop SMEs, we have always been committed to supporting new start-ups. With Expo 2020 Dubai underway. which allows many partnerships and opportunities, this has become more important. In addition to employing a large part of the private sector workforce, SMEs are a key pillar of the national economy and vital for its diversification. The sector is a major contributor to the growth of the United Arab Emirates. Non-oil GDP, which is expected to grow 3.8% in 2021 and 3.9% in 2022.
“Our strategic partnership with Commercial Bank of Dubai will further enhance this growth by providing SMEs with a range of innovative digital banking solutions that will help them process their finances efficiently. “
The partnership agreement with Jafza is the latest in a series of partnerships that CBD continues to forge with the aim of supporting the SME ecosystem through its partnerships with Dubai Economy, DMCC, Emirates Development Bank, etc.