UAE’s leading financial institution Commercial Bank of Dubai (CBD) has signed a partnership agreement with the Dubai Multi Commodities Centre (DMCC) to enhance entrepreneurship and support business owners.
The collaboration will allow DMCC trade license holders to utilize 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.
“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.”
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,” Dr. Linder added.
The deal with DMCC is the latest in a series of relationships that CBD has formed to promote the SME ecosystem. Recently, it has partnered with Dubai Economy and Emirates Development Bank.