May 30, 2024

Dubai Chambers-CITI MoU boosts cooperation, commercial competitiveness

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Dubai Chambers and Citi UAE recently entered into a memorandum of understanding (MoU) for enhancement of cooperation, the coordination required for serving out common objectives, boosting the competitiveness of the business community, and facilitating public-private partnerships that drive sustainable economic growth. 

From L to R: – Elissar Farah Antonios and H.E. Hamad Buamim during the MOU signing

This memorandum was signed by H.E. Hamad Buamim, President & CEO of Dubai Chambers, and Elissar Farah Antonios, CEO of Citi UAE and Head of the Middle East and North Africa, in the presence of representatives from both entities.

Industry sources revealed that under the terms of the strategic agreement, both the firms Dubai Chambers and Citi UAE will be mutually participating in joint events and initiatives that aid the common objectives, luring the firms to the UAE and offering the latest banking services, products, and financial solutions to the private sector.

H.E. Buamim stated that the agreement is a crucial development that would advance the standard of banking services and solutions that empower business growth, which would ultimately create a more conducive and competitive business environment.

He noted that the partnership supports Dubai Chambers’ strategy and ongoing to attract multinational companies to Dubai and ensure a favorable business environment in the emirate, adding that banking is among the top sectors that attract the most foreign direct investment and a key sector that will support the emirate’s new economic vision.

For her part, Elissar Farah Antonios, CEO of Citi UAE and MENA Cluster Head stated that “this strategic partnership is an opportunity to further promote Dubai as an investment destination and a hub for multinational companies. It falls within Citi’s commitment to UAE’s transformation into a global economic powerhouse and our support of Dubai’s attractiveness and forward-thinking vision.”

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