Emirates News Agency – Commercial Bank of Dubai receives “Outstanding Innovation in Trade Finance” by Global Finance Innovators Awards

Dubai, November 10, 2021 (WAM) – Commercial Bank of Dubai (CBD), one of the leading banks in the United Arab Emirates, won the “Outstanding Innovation in Trade Finance” award at the award ceremony of digital banks and Global Finance innovators. recently at the Ritz Carlton Hotel – DIFC.

The award was received by Dr Bernd van Linder, Managing Director, CBD and Abdul Rahim Al Nimer, Managing Director, Corporate Banking.

The Global Finance Innovators Awards recognize and celebrate the world’s leading financial services organizations that are pioneers in unmatched standards and capabilities in their respective fields. The awards programs are acclaimed around the world and co-judged by leading consultants and journalists who are subject matter experts in the fields of retail banking, private banking, transaction banking, investment banking, corporate banking, asset management and insurance, to ensure full transparency and impartial assessment.

Upon receiving the award, Dr Bernd van Linder, CEO of Commercial Bank of Dubai, said: “We are honored that our innovative trade finance products and solutions have been recognized by reputable industry experts. CBD has played a decisive role in promoting digital. transformation and use of new technologies to meet the needs of our customers, helping them to increase their efficiency and improve their processes. As we continue on our path to excellence, awards such as these will motivate us to continue to improve our services to our customers and provide them with more innovative solutions. “

Ali Imran, Head of Transactional Banking and Digital Wholesale Services at CBD, said: “These days, innovative financial solutions are essential for businesses, as they leverage the most advanced banking technologies to provide them with an experience. convenient and transparent banking, allowing them to easily execute banking transactions. in the comfort of their offices. We will continue to ride the wave of disruption by offering innovative payment solutions as part of our “Default Digital” strategy.

CBD’s trade finance offering, the first of its kind in the Middle East, provides both buyer and seller led supply chain finance solutions through a single portal for businesses. To ensure compliance with local data regulations, the solution was deployed using the Microsoft Azure UAE cloud. The platform is also capable of handling clients and their counterparts located anywhere in the world, as KYC measurements will be customized according to the regulatory requirements of the country concerned.

WAM / / Hatem Mohamed / Tariq alfaham

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