United Arab Bank (UAB) and the Dubai Multi Commodities Centre (DMCC) have signed a Memorandum of Understanding (MoU) to help new firms with the process of opening a bank account when establishing their facilities in the DMCC Free Zone.
DMCC is a government authority that aims to establish Dubai as the global gateway for commodity trade.
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The deal coincides with the opening of a new UAB branch in DMCC’s Almas Tower.
The partnership will allow companies to simultaneously register in the DMCC Free Zone and open a bank account, thereby reducing the time spent to set up and improve customer experience.
UAB retail banking executive vice president, Tony B Graham, said this collaboration enables them to offer a seamless customer experience for businesses and entrepreneurs seeking to establish businesses in the Emirates.
"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," Graham added.
