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Most Recent Press Release
CBD New Chairman and Vice Chairman Website Post

Commercial Bank of Dubai (CBD) AGM approves the highest-ever financial performance and dividend distribution of 44.38 fils per share

11 March 2024

The Board of Directors of Commercial Bank of Dubai (CBD) have elected Ahmad Abdulkarim Mohammad Julfar as Chairman of the Board of Directors, and Ahmad Abdulla Juma Binbyat, as the Deputy Chairman.

انتخب مجلس إدارة بنك دبي التجاري السيد أحمد عبد الكريم محمد جلفار رئيساً لمجلس إدارة البنك، والسيد أحمد عبد الله جمعة بن بيات نائباً لرئيس مجلس الإدارة.

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Partnrship with PostPay

07 February 2022

Postpay and the Commercial Bank of Dubai partnership is the latest FinTech-Bank collaboration designed with the consumer in mind

Dubai, 7th February 2022: Commercial Bank of Dubai (CBD), one of the leading banks in the UAE, has approved a debt financing deal with Postpay, a leading omni-channel Buy Now, Pay Later (BPNL) provider in the Middle East. This inaugural debt financing arrangement is another example of how FinTech and traditional banks are partnering to leverage their collective experience and expertise to enhance the suite of financial products offered in the market.

The strategic partnership with CBD will provide support to Postpay on several fronts including Transaction Banking, Debt Funding and E-Commerce solutions allowing Postpay to focus on growth and support to its customers and merchant partners. The continued support from CBD will also enable Postpay’s planned expansion in the UAE, KSA, and other GCC countries. The financing facility helps solidify Postpay’s place as the region's leading BNPL firm with the most diverse range of brands. Further, it supports their promise to create a seamless payment journey for consumers and to provide greater financial flexibility both online and in-store across the region.

“We are delighted to extend our partnership with CBD, a leading financial Institution that is committed to supporting innovation in financial technology. This facility provides the necessary fuel to our engine and empowers us to achieve our ambitious goals for the future”. said, Tariq Sheikh, Founder and CEO of Postpay.

For CBD, this is the latest step in their FinTech partnership journey; a journey that recently culminated in CBD establishing a permanent presence in the DIFC Innovation Hub, the largest FinTech ecosystem in the region.

Dr. Bernd van Linder, CEO of Commercial Bank of Dubai, commented “The partnership with Postpay is in line with our commitment to back our customers’ ambitions. We believe in supporting the growing FinTech ecosystem in the UAE so as to enhance the overall payments sector with innovative digital solutions like BNPL.”

Last year Postpay closed a $10 Million Pre-series A funding round, led by Afterpay, Touch ventures (and others) which accelerated the growth of the company several fold positioning it as one of the leading Fintech players regionally.