Commercial Bank of Dubai Inks Partnership Agreement with DMCC to provide banking services to their License holders
Dubai, 27 June 2021: 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.