Commercial Bank of Dubai Partners with Takaful Emarat for Payments and Cash Management Solutions
Dubai, 20 March 2019: Commercial Bank of Dubai (CBD) recently commemorated its partnership with Takaful Emarat, the leading Shariah compliant life and health Takaful provider in the UAE, in providing payments and cash management solutions.
The partnership celebration was held in Takaful Emarat’s offices in Dubai and was attended by Dr. Bernd van Linder, Chief Executive Officer of Commercial Bank of Dubai, and Fadi Hindi, Chief Executive Officer of Takaful Emarat, as well as senior management from both organizations.
Through this partnership, CBD will support Takaful Emarat in their banking solutions and provide them with innovative digital banking platform to improve their operational efficiency.
Speaking on the significance of the partnership, Dr. Bernd van Linder, CEO of Commercial Bank of Dubai said, "CBD partners with its clients to address their challenges through innovative, digital solutions. Our aim is to increase our clients’ efficiency by optimizing and streamlining their banking experience, helping them to save time, effort and money.”
Fadi Hindi, CEO, Takaful Emarat added, “Our partnership with CBD has been an important and fruitful step towards accomplishing our digital transformation goal. With CBD’s automation technology, we have improved our cash management systems by significantly reducing turnaround times for payment processing. We have already seen positive results from our partnership, so far, and I am pleased to say we are currently working on several other innovative solutions that leverage CBD’s technology. I look forward to a long and mutually beneficial relationship with CBD as we communicate further updates in due course.”
Through CBD’s cutting edge technologies, Takaful Emarat will have access to a range of payments and cash management solutions including iDirect, CBD’s Direct Debit solution for automating the receivables for any recurring payments, iCollect, CBD’s remote cheque scanning solution which will be used to process both current and post-dated cheques and iBusiness, CBD’s online banking platform which will facilitate payment services such as transfers, domestic and international payments, bill payments, VAT payments, WPS salary and non-WPS salary payments
Commercial Bank of Dubai is recognized as one of the leading banks in the UAE in cash management solutions and has always been at the forefront in bringing banking innovations to the market. CBD was recognized with the “Best Cash Management in the UAE” Award, by Banker Middle East in 2017 and 2018 and the “Best Online Cash Management Award” by Global Finance.