Emirates NBD banking group says a new agreement with one of Israel's largest banks will open business and trade opportunities for clients.
The deal was signed with Bank Hapoalim on Monday.
Emirates NBD said it supports the two countries’ shared objective of enhancing economic and commercial engagement.
It will also establish cooperation to promote sustainable development.
Shayne Nelson, Group CEO, Emirates NBD said, "The MoU will open new business and trade opportunities for our clients and further enhance our leading position as a trusted banking partner to businesses across the MENAT region.”
Dov Kotler, CEO of Bank Hapoalim, praised the agreement as a breakthrough achievement that will allow Israeli clients to transact directly in the UAE and subsequently in other countries.
“It is a great honour to be the first bank to sign such an agreement that will contribute to the establishment of the relationship between the two countries,” he said.
Emirates NBD, a leading banking group in MENA region & Turkey, signs an MoU with Bank Hapoalim, one of Israel's largest banks. The MoU is part of a broader engagement between the UAE & Israel to further peace, dialogue, & stability.https://t.co/weNTiChQHI pic.twitter.com/aOhM9bK2GZ— Dubai Media Office (@DXBMediaOffice) September 14, 2020