DED, Emirates NBD co-operate to promote consumer rights

Press release

Published May 2nd, 2011 - 10:26 GMT

Al Bawaba

The Commercial Compliance and Consumer Protection Division at the Department of Economic Development in Dubai (DED) and Emirates NBD are joining hands to offer consumer protection tips and guidelines that will be displayed at the bank's ATM screens located all over the UAE. This initiative is part of DED's ongoing drive to strengthen the communication channels with consumers to educate them about their rights.

Emirates NBD will display consumer protection guidelines on its affiliate ATM network, which includes more than 650 machines spread in the UAE. The guidelines will include an overview of Consumer Law No. (24) 2006, and ways to submit complaints and comments to the Department of Economic Development in Dubai.

“DED is committed to uphold the rights of consumers, and raise the service standards provided by the retail sector and thus strengthen consumer confidence. We are pleased to co-operate with Emirates NBD, one of the leading banking institutions, to further strengthen customer awareness by using this innovative approach,” said Khalid Al Kassim, Deputy Director General for Planning and Development, DED.

"Emirates NBD is keen to support the efforts devoted to transparency within the various segments of society and spread awareness among consumers of their rights. We thank the Department of Economic Development for the continued cooperation, which is in line with the bank's commitment to provide the best services and products to customers," said Saif Al Mansoori, Deputy Head, Group Marketing and Branding, Emirates NBD.

The Department of Economic Development has recently signed a cooperation agreement with Emirates NBD, which enables customers to pay for DED’s services through branches of the bank in Dubai and UAE.

The agreement underscored the commitment of DED to strengthen co-operation with leading financial and banking institutions to enhance customer services and further ease procedures by activating online technologies to maximise customer service standards.

Background Information

Department of Economic Development

The Department of Economic Development (DED) is the government body entrusted to set and drive the economic agenda of the emirate of Dubai, UAE. The DED supports the structural transformation of Dubai into a diversified, innovative service-based economy that aims to improve the business environment and accelerate productivity growth.

Company Profile

Emirates NBD

Emirates NBD, the leading banking group in the region, was formed on 19 June 1963, when H.H. Late Sheikh Rashid bin Saeed Al Maktoum signed the Charter of Incorporation of the National Bank of Dubai (NBD) which became the first National Bank established in Dubai and the United Arab Emirates (UAE). With the blessings of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, NBD merged with Emirates Bank International (EBI) on 06 March 2007, to form Emirates NBD, the largest banking group in the region by assets. On 16 October 2007, the shares of Emirates NBD were officially listed on the Dubai Financial Market (DFM). The merger between EBI and NBD to create Emirates NBD, became a regional consolidation blueprint for the banking and finance sector as it combined the second and fourth largest banks in the UAE to form a banking champion capable of delivering enhanced value across corporate, retail, private, Islamic and investment banking throughout the region.