Business | Property
Dubai World joins hands with Commercial Bank of Dubai
Dubai World and Commercial Bank of Dubai (CBD) have entered into a partnership to offer the bank's direct debit services to their mutual customers.
- Staff Reporter
- Published: 23:01 March 15, 2008
Dubai: Dubai World and Commercial Bank of Dubai (CBD) have entered into a partnership to offer the bank's direct debit services to their mutual customers.
An agreement to this effect was signed at the Dubai World offices by Mohammad Al Muallem, senior vice-president and managing director of DP World's UAE region, on behalf of Dubai World and in his capacity as the member of board of Dubai Trade, and Faisal Galadari, general manager, Business Group at CBD, in the presence of Mahmoud Al Bastaki, director, Dubai Trade, the innovative service-driven trade and logistics e-hub.
The agreement will facilitate the use of CBD's direct debit services that offer an online payment system for real-time transfer of funds from the customer's account with the bank to the account of Dubai World's ventures including DP World and Jafza against their respective service fees. This will be served through Dubai Trade's Central e-Payment Gateway to be launched at the Dubai Trade Portal (www.dubaitrade.ae) by the end of this month.
Coverage
The direct debit services cover all customers of Dubai World and its subsidiaries, who are account holders with CBD. Various transactions with the group's different business units can be made through this online system using their internet banking credentials.
Under the agreement, the bank will also provide an online payment gateway, allowing customers to use credit cards for payments of fees and services.
Al Muallem said that the agreement with Commercial Bank of Dubai will be of great help to customers.
"Dubai World along with CBD is offering online payment services to enhance the satisfaction of our mutual customers. We are always eager to exploit the latest in technology that makes procedures easy and saves time. Our efforts will be continuously upgrade the operational systems," he said.
Business Editor's choice
-
Saudi-Bahraini economic ties hit new high
Whilst press reports continue speculating on a possible new political structure defining ties between Saudi Arabia and Bahrain, facts on the ground confirm ever- stronger economic ties between the two neighbours
-
Cupid targets the Fed with early tweets
Declarations range from pure romance to cute overtures and racier fare
-
Do unemployment figures flatter to deceive?
Jobseekers and recruiters give out mixed signals ranging from optimism to downright despair even as official data show recovery
