According to Amac News: Based on the agreement, the two parties will cooperate to provide access to integrated banking services for international companies starting their operations in Dubai. These services are also intended for the local private sector.
The agreement will help increase the competitiveness of businesses in the emirate and facilitate their growth and expansion in local and international markets.
As part of the agreement, Standard Chartered Bank will provide trade finance services to Emirati businesses seeking to expand internationally.
The bank will use its global network to guide Dubai-based businesses in opening accounts, as well as provide similar support to multinational companies looking to open bank accounts in Dubai.
Dubai Chambers of Commerce will also support Standard Chartered clients around the world who are looking to establish a presence in Dubai and expand their operations in the emirate.
Mohammed Ali Rashid Lootah, President and CEO of Dubai Chambers of Commerce, said the signing of the agreement will help attract foreign investment to the emirate.
Rola Abu Maneh, Managing Director of Standard Chartered for the UAE, Middle East and Pakistan, said the organization will work to empower businesses across the UAE to expand into new markets and achieve sustainable growth, using its global network and trade finance expertise.