Emirates NBD and Bank Leumi sign a memorandum of understanding

During the signing of the memo.

From the source

Emirates NBD and Bank Leumi, one of the leading banks in Israel, signed a Memorandum of Understanding in the presence of the Vice Chairman and Managing Director of Emirates NBD Group, Hisham Abdullah Al Qassem, and Emirates NBD Group CEO, Shane Nelson, And the Chairman of the Board of Directors of "Bank Leumi", Dr. Samer Hajj Yahya, the CEO of "Bank Leumi", Hanan Friedman, and a number of officials.

This is the second agreement that Emirates NBD signed with an Israeli bank, following the start of financial and economic relations between the UAE and Israel, in which Bank Leumi currently acquires an estimated share of about 30% of its banking system.

Al-Qassem said: “With the signing of this agreement with a bank of the size and weight of (Leumi), we are looking forward to exploring prospects for joint economic and commercial cooperation, as this agreement paves the way for strengthening banking relations between the two sides, in a way that benefits our brand, our customers, and the economy of the United Arab Emirates. During new business and trade opportunities ».

For his part, the Chairman of the Board of Directors of "Bank Leumi" said: "We congratulate the Israeli government on its distinguished achievement in consolidating our relations with the UAE, and the ideal time has come to start practical steps and open economic channels that will ensure the realization of great cooperation potentials between the two countries."

He added, "We are pleased to sign this agreement with Emirates NBD, which will lay the foundations for future broad-based cooperation between business sectors in the UAE and Israel."

Emirates NBD is the largest bank in Dubai by assets, and it operates large commercial concessions in the banking services sector, for individuals, companies and institutions, in the UAE, Saudi Arabia, Egypt, India, Turkey, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain, and has representative offices in China and Indonesia. .

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