UAE-based United Arab Bank (UAB) Dubai Multi Commodities Centre (DMCC) and United Arab Bank (UAB) have signed a Memorandum of Understanding (MoU) to facilitate the companies opening a bank account, who are setting up in DMCC free Zone. This MoU has been further strengthened today with the opening of a new UAB branch in DMCC's Almas Tower.
The two parties have agreed to collaborate in creating a streamlined process where companies can register in the DMCC Free Zone and open a bank account simultaneously.
Ahmed Bin Sulayem, Executive Chairman, DMCC said, "We continuously look at ways of improving efficiencies and enhancing the customer experience for DMCC member companies. Signing an MoU with the UAB further demonstrates our commitment to His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the U.A.E. and Ruler of Dubai, to establish Dubai as the ultimate global hub for trade and enterprise, and our commitment to the regional and international business community by providing the products and services they require to succeed and progress in a business friendly environment." Tony B. Graham, Executive Vice President - Retail Banking, United Arab Bank, said, "Our MoU with the DMCC marks a significant milestone for the United Arab Bank as we continuously look to better serve our clients and expand our reach across all sectors." Today's MoU signing and ribbon cutting ceremonies marking the opening of UAB's new branch at Almas Tower, the tallest commercial tower in the Middle East, was also attended by Sreeram Subramaniam, Senior Vice President - SME Banking, and Faisal Al-Najjar, Senior Vice President - Retail Liabilities.
Source: WAM