The Dubai Economic Department, represented by the registration and commercial licensing sector and the Commercial Bank of Dubai, has signed a partnership agreement to provide banking services to business owners who apply for a new business license or who renew their license from Dubai Economic, and this initiative aims to facilitate the practice of business and reduce the costs of exercising it, and enhance the liquidity of owners Commercial licenses, and upgrading the quality of services provided in the area of ​​business licensing and commercial activities in the Emirate of Dubai.

According to the agreement, CBD will open accounts for business owners, where they will be able to obtain 1% cash back on the fees of the new business license or in the event of renewal based on the average daily balance in their accounts with the bank. In addition, business owners can obtain a credit card The bank, which allows them to convert the commercial license fees into a facilitated payment plan with an interest rate (0%) and pay it over a period of 6 to 12 months.

“We are delighted to sign this agreement, which embodies the keenness of government agencies and the private sector to work together in a manner that contributes to providing an attractive and supportive environment for businesses that aligns with global best practices, and helps to achieve a government vision Dubai is in the development of various economic sectors and creating a competitive environment to enhance the emirate's position as a global financial and commercial center. ”

He added: «We seek in the Dubai Economy to reduce the cost of doing business, raise the operational liquidity that supports the expansion of their business, and help the current businessmen and those who wish to start their business in Dubai through coordination with the concerned authorities in the emirate, along with harnessing all efforts and capabilities that include simplification and facilitation Dubai transaction procedures and licenses.

Bushahab pointed out that the registration and commercial licensing sector is constantly working to harness all the capabilities in order to facilitate and reduce the cost of doing business, improving the flow of services provided to all customers, in addition to strengthening strategic partnerships with government and private sectors in the emirate, to attract and support various and varied businesses, Which reflects positively on the economic level.

For his part, Commercial Bank of Dubai Chief Executive Officer, Dr. Bernd Van Linder said: “Commercial Bank of Dubai has always been keen on enhancing the business climate in Dubai, and working to motivate business owners and provide all banking services and solutions that will help them in the completion and promotion of their projects. Our agreement with Dubai Economy aims to facilitate and expedite these procedures, where Commercial Bank of Dubai will launch a digital account opening service that will ensure users an easy and flexible experience. In addition, our promotional offer will help business owners get a 1% cashback opportunity for new business license fees or in case of renewal based on the average daily balance in their accounts with the bank. ”

CBD will assist business owners in promoting their products and services to CBD's customer base through a digital marketing platform through its website under the name "CBD Market".