Commercial Bank of Dubai and Life Pharmacy partner for payment and cash management
Commercial Bank of Dubai (CBD) and Life Pharmacy, one of the largest pharmacies in the UAE, recently commemorated their partnership in Payments and Cash Management, built over the last several years. Senior representatives from Life Pharmacy and CBD attended an event in CBD Head office to celebrate the growing Payments and Cash Management partnership between the two institutions. The implementation of a new Cash Management mandate further reaffirms Life Pharmacy commitment to adopt modern technology for the benefit of its customers.
Alain Renaud, General Manager, Corporate Commercial and Investment Banking Group at CBD commented: “At Commercial Bank of Dubai we believe that cash management is about expertise, skills, commitment and relationship. CBD is pleased with the long-standing relationship with Life Pharmacy, where the bank could support them in their growing and ever evolving cash management needs, and as process automation, improving its operational efficiency. We continue to observe many synergies between the institutions and are pleased to be part of their growth story in the UAE.”
Abdul Nazzar, Managing Director, Life Pharmacy, said: “At Life Pharmacy, we are always looking for new ways to streamlining the processes, so that at the end our customers can benefit from our internal efficiencies. With the most of the transaction electronically processed and reconciliation made very easy, we have noticed the internal processes improved with reduced operational costs. As one of the largest pharmacy in the UAE’s, we are very proud to have a leading Cash Management partner such as CBD in our journey.”
Commercial Bank of Dubai is recognized as one of the leading Banks in UAE in cash management solutions. CBD is always at the forefront in bringing banking innovations to the market, being the first bank to introduce automated cheque collection machines in its branches and being the main collection bank for the Dubai Naturalisation and Residency Department. The Bank recently launched digital payment and cash management solutions such as iBusiness, iPrint and iCollect for Corporate and Commercial customers.