DED and Commercial Bank of Dubai sign agreement to facilitate electronic payment procedures

The Dubai Department of Economic Development (DED) and Commercial Bank of Dubai (CBD) have signed a co-operation agreement to give customers the option of paying fees electronically. This initiative aims at enhancing productivity, ensuring added-value service to clients and attracting investors to do business in Dubai.

As per the agreement, Commercial Bank of Dubai will provide DED with electronic systems services to facilitate the review of banking settlement and also present a weekly detailed report covering all transactions and procedures that took place during the preceding week.

Mr Ali Ibrahim, Deputy Director General for Executive Affairs, DED, and Mr Faisal Galadari, General Manager – Business Group, signed the agreement. Officials from DED and CBD attended the signing ceremony held, recently, at DED headquarters in Deira.

“DED will assist investors by co-ordinating with other government departments and authorities in achieving our objectives. We are always on the lookout to set applicable strategies to strengthen trade licensing procedures in Dubai,” said Mr Ali Ibrahim.

“We are pleased to sign the agreement with Commercial Bank of Dubai, which will contribute in enhancing the level of services provided to customers in line with the evolution of technology and to keep pace with Dubai’s fast economic development,” added Mr Ali.

Mr Galadari said: “Commercial Bank of Dubai is focused on serving customers with top-of-the-line technology. Online payment services have made transactions easy for all and are now a preferred mode for customers. Our partnership with DED will benefit a large cross-section of customers. This agreement follows a number of other initiatives to provide eServices to other establishment and government departments.”

About Department of Economic Development (DED):
The Department of Economic Development (DED) is the government body entrusted to set and drive the economic agenda of the emirate of Dubai, UAE. 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.

DED and its agencies develop economic plans and policies, identify and support the growth of strategic sectors, and provide services to domestic and international investors and businesses.