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18 December 2019

DED, CBD partner to enhance liquidity of business licence owners

Under the agreement, the bank will open accounts for customers applying for new or renewed trade licences from Dubai Economy with minimal paperwork.

Shutterstock/Kirill Neiezhmakov

by Kudakwashe Muzoriwa

Dubai Economy (DED) has partnered with Commercial Bank of Dubai (CBD) to provide easy banking services for investors applying for new licences or renewing their trade licences.

Omar Bushahab, the CEO of the Business Registration & licencing (BRL) sector in DED, said, “We are committed to offering innovative initiatives that will reduce cost of doing business and enhance liquidity to support business expansion.”

DED stated that the partnership marks another step to upgrade the quality of business registration and licencing services in Dubai and eventually enhance liquidity of licence owners through improved ease as well as reduced cost of doing business.

Additionally, CBD will also issue business owners with a CBD credit card and they can convert their licence fee into a zero per cent easy payment plan payable over a period between six to 12 months. 

The lender will also offer a digital platform to businesses to promote their products and services to the CBD database of customers.


RELATED STORIES: Commercial Bank of Dubai Dubai Economy





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