DED signs co-operation agreement with Emirates NBD

Press release
Published January 5th, 2011 - 10:41 GMT

The Department of Economic Development (DED) has 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 underscores 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. 

The agreement was signed by Mr. Ali Ibrahim, Deputy Director General for Planning and Development Affairs at DED, and Mr. Mohammed Al Falasi, Senior Vice President and Head of Direct Sales and Alternate Channels, Emirates NBD. 

"The agreement is in line with ongoing efforts of government institutions to achieve Dubai’s strategic goals and leadership vision of promoting the city as an ideal destination for business by boosting partnerships and leveraging technology to maximise customer service standards," said Mr Ali Ibrahim. 

"DED strives to provide its customers with high quality services that save time, and enhance procedures and agreements with leading financial organizations, in order to help us achieve our goals and objectives," he added. 

Mohammed Al Falasi said: “Today’s announcement is testament to the cooperation between Emirates NBD and The Department of Economic Development and is in line with the government’s overall vision of boosting economic development in Dubai”. 

“This agreement is designed to assist both organisations in providing enhanced services to our customers, which will be facilitated throughout Emirates NBD’s extensive network of branches across the UAE. Emirates NBD would like to thank the Department of Economic Development for their initiative and will continue to seek successful partnerships with similar objectives in the future,” he added. 

DED will continue to form effective strategic agreements with different organizations to exchange knowledge and best practices. 

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.

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.

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