A memorandum of understanding (MoU) was signed by Dubai Chambers in Citi UAE to enhance the cooperation and coordination to serve goals, boost the competitiveness of the business community, and facilitate the public-private partnership that drives sustainable economic growth.
H.E. Hamad Buamim, President and CEO of Dubai chambers Elissar Farah Antonios, CEO of Citi UAE and Head of the Middle East and North Africa signed the memorandum, in the presence of representatives from both entities.
Under the terms of the agreement, Dubai Chambers and Citi UAE will collaborate on events and initiatives that support common goals, attract companies to the UAE and provide new banking services, products, and financial solutions to the private sector, Dubai Media Office reported.
Hamad Buamim described the agreement as an important development that would raise the standard of banking services and solutions that enable business growth, which would ultimately create a competitive business environment. The partnership supports Dubai Chambers’ strategy to attract multinational companies to the emirate.
He also added that Banking is among the top sectors that attract the most foreign direct investment and a key sector that will support the emirate’s new economic vision.
Elissar Farah Antonios added this strategic partnership is an opportunity to further promote Dubai as an investment destination and a hub for multinational companies. It falls within Citi’s commitment to UAE’s transformation into a global economic powerhouse and our support of Dubai’s attractiveness and forward-thinking vision.
Earlier this year, Dubai Chambers rebranded and unveiled its new corporate identity reflecting the organization’s restructuring. The chamber also recorded $2.99m (Dhs11m) in cost savings, saving one million sheets of paper in 2021.
