The Dubai Chambers has signed a memorandum of understanding (MoU) with Citi UAE to enhance cooperation and serve common goals, boost the competitiveness of the business community and facilitate public-private partnerships that drive sustainable economic growth.
The memorandum was signed by Mr. Hamad Buamim, President and CEO of Dubai Chambers, and Ms. Elissar Farah Antonios, CEO of Citi UAE and Head of the Middle East and North Africa, in the presence of representatives from both entities. Citi UAE is a franchise subsidiary of Citigroup, a US-based multinational financial services corporation.
Under the terms of the strategic agreement, the parties will cooperate on joint events and initiatives that support common goals, attract companies to the UAE and provide new banking services, products, and financial solutions to the private sector.
Mr. Buamim described the agreement as an important development that would raise the standard of banking services and solutions that enable business growth, which would ultimately create a more conducive and competitive business environment.
Further, Mr. Buamim noted that “the partnership supports Dubai Chambers’ strategy and ongoing to attract multinational companies to Dubai and ensure a favorable business environment in the emirate, adding that banking is among the top sectors that attract the most foreign direct investment and a key sector that will support the emirate’s new economic vision.”
Dubai Chambers is a non-profit public entity that supports Dubai’s vision as a global player by empowering businesses, providing innovative value-added services and access to influential networks.
For her part, Ms. Antonios said that “this strategic partnership is an opportunity to further promote Dubai as an investment destination and a hub for multinational companies. It falls within Citi’s commitment to UAE’s transformation into a global economic powerhouse and our support of Dubai’s attractiveness and forward-thinking vision.”