Dubai Chambers and Standard Chartered enhance the expansion of local companies globally

Dubai Chambers concluded a memorandum of understanding with Standard Chartered with the aim of cooperation and joint work to enhance the growth of local companies and support the expansion of their business in promising global markets.

Under the memorandum of understanding, the two sides will cooperate in providing integrated banking services to companies attracted by Dubai Chambers to the emirate, in addition to supporting the private sector, which contributes to enhancing the competitive capabilities for growth and expansion of companies operating in the emirate at the level of local and international markets.

Standard Chartered will provide trade financing services to local companies wishing to expand their business in global markets, relying on its network of branches around the world, in addition to facilitating the procedures for opening bank accounts for multinational companies. In turn, Dubai Chambers will support Standard Chartered’s clients around the world who wish to Investing in Dubai and growing their business from the emirate.

The memorandum of understanding with Standard Chartered comes within the “Global Partnerships Programme,” which enhances the efforts of Dubai Chambers in attracting foreign investments and expanding the business of local companies in promising foreign markets, through cooperation with global service providers, across eight commercial categories, in line with With the objectives of the Dubai Global initiative to help Dubai companies explore new business opportunities and attract foreign direct investments.

Director General of Dubai Chambers, Mohammed Ali Rashid Lootah, said: “The memorandum comes within the framework of the chambers’ efforts to consolidate Dubai’s pivotal role on the global financial and business map, by expanding towards promising foreign markets, in conjunction with attracting foreign investments to the emirate.”

For her part, the CEO of Standard Chartered in the UAE, the Middle East and Pakistan, Rola Abu Amna, said: “This partnership reflects Standard Chartered’s commitment to supporting the UAE’s vision to accelerate economic growth and diversification, while contributing to the ambitious Dubai (D33) agenda. This is to enable institutions and companies across the country to expand into new global markets and achieve sustainable growth.”