April 22, 2024

CBD Teams With DFS As A Strategic Banking Partner

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The collaboration reinforces Dubai FinTech Summit and CBD’s shared commitment to boost the global financial ecosystem through innovation and Global Exchange
Mohammad Alblooshi, Chief Executive Officer, DIFC Innovation Hub and Ali Imran, Chief Operating Officer of Commercial Bank of Dubai, signing the agreement. Image Courtesy: Commercial Bank of Dubai

Commercial Bank of Dubai (CBD), one of the UAE’s leading national banks, has joined the Dubai FinTech Summit (DFS), organized by Dubai International Financial Centre (DIFC), the leading global Financial Centre in the MEASA region, as a Strategic Banking Partner.

Industry sources added that this initiative underscores its dedication to supporting innovative and futuristic thinking businesses on a global scale. The partnership agreement was signed in the presence of Arif Amiri, Chief Executive Officer, of DIFC Authority and Dr. Bernd van Linder, Chief Executive Officer, of Commercial Bank of Dubai, by Mohammad Alblooshi, Chief Executive Officer, of DIFC Innovation Hub, and Ali Imran, Chief Operating Officer of Commercial Bank of Dubai.

Industry sources added that the Commercial Bank of Dubai was the first bank to establish a Digital Lab at the DIFC Innovation Hub. Over the years, the bank has played a pivotal role in the development of a dynamic and technology-driven financial ecosystem, creating inroads for a smarter, and more connected financial future.

Industry sources further added that through strategic programs and plans like the Buy Now Pay Later (BNPL) solution by Postpay, CBD has been actively engaged in boosting the overall payments sector aimed at triggering the growth of the FinTech industry.

From L To R – Arif Amiri, CEO at DIFC Authority And Dr. Bernd van Linder, CEO at Commercial Bank of Dubai

Arif Amiri, Chief Executive Officer at DIFC Authority, stated, “The Dubai FinTech Summit is creating a powerhouse of partnerships bringing together pioneers, thinkers, and disruptors from around the globe who are shaping the future of finance. Our collaboration with the Commercial Bank of Dubai is a testament to our shared dedication displayed for cultivating an energetic and forward-thinking FinTech ecosystem. It not only amplifies Dubai’s stature as a premier hub for business but also paves the way for us to convert challenges into avenues of opportunity, as we continue to cultivate the most sophisticated, inclusive, and tech-savvy financial community on the global stage.”

Dr. Bernd van Linder, Chief Executive Officer at Commercial Bank of Dubai, stated, “Commercial Bank of Dubai is thrilled to be a part of the Dubai FinTech Summit 2024, a global platform that brings together the brightest minds in the industry to shape the future of finance. Our participation in this event aligns with our commitment to innovation and our vision to be at the forefront of the FinTech revolution. As a forward-thinking bank, we place our customers at the heart of our business, constantly striving to provide them with innovative solutions that meet their evolving needs. We are proud to have signed an MoU as Strategic Banking Partner with Dubai International Finance Centre as part of our sponsorship partnership. We look forward to engaging in insightful discussions and exploring new opportunities for growth and collaboration.”

Industry sources further added that in plans with the D33 Agenda to position Dubai as the top four global financial hub by 2033, the 2nd edition of the Dubai FinTech Summit is designed to boost cross-border collaboration and innovation, pivotal to transforming the global FinTech sector. It displays a unique opportunity to explore emerging FinTech trends and their potential to drive financial progress in the MEASA region.

The Dubai FinTech Summit, scheduled for 6-7 May 2024, at Madinat Jumeirah, Dubai, will overview an unprecedented gathering of over 8,000 decision-makers, over 300 thought leaders, and over 200 exhibitors showcasing cutting-edge technologies.

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