Dubai Islamic Bank to offer DIB Trade Club membership and access to the Trade Club Alliance to Corporate and SME customers

New service will drive increased international trade opportunities by providing access to an international network of banks covering well over half of the world’s global trade corridors

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE announced plans to offer customers membership of the Trade Club Alliance (TCA) – an innovative international digital business networking platform, offering Corporate and SME clients a wealth of relevant trade expertise and the opportunity to connect with trusted partners across the globe.

The Trade Club Alliance, led by Santander Group and currently extended to a global network of 15 banks, aims to improve connectivity between importers and exporters, making international trade simpler.

Membership of the DIB Trade Club offers customers access to two distinct online platforms – Trade Club and Trade Portal. The Trade Club is a front-end interface, which provides cross-border B2B matchmaking enabling DIB customers and the clients of the Trade Club Alliance partner banks to identify mutually beneficial business opportunities. In addition, it establishes an online marketplace for pre-vetted Requests for Offers (RFOs) posted by the clients of the partner banks.

The Trade Portal, on the other hand, complements the former, with an online knowledge base providing customers with trade and other relevant data from several hundred trusted sources. The portal, which aims to improve trade efficiency, has 5 modules or tools including country profile, market information, counterpart information, trade compliance and custom calculators. DIB can extend the portals to its existing or potential customers whilst building strategic FI relationships with network of global banks.

DIB believes this move will open exciting new avenues for existing and potential customers to generate fresh leads and opportunities and facilitate the expansion of business into other markets.

Commenting on the announcement, Dr. Adnan Chilwan, Group Chief Executive Officer at Dubai Islamic Bank, said; “DIB has a proud legacy of helping the region’s businesses achieve success and our commitment to supporting UAE economic growth remains an integral element of our strategy. Against this background, we have joined TCA as an exclusive partner in UAE to offer improved trade solutions for our Corporate and SME clients. This global program will not only allow companies to identify trusted partners in other geographies for business but will also enable them to seek advice on financial services from any of the current 15 alliance banking community, set to expand even further across additional markets. The introduction of this new platform in the market is expected to enhance the growth opportunities for UAE based international trade-oriented companies.

“Access to a one-stop shop of trade resources enables customers to discover global opportunities, receive tailored matches for their products or services and exchange insight about international trade with over 21,000+ fellow members.”

Membership compliments DIB’s market-leading digitization strategy, offering unique services and functionality to DIB’s trade clientele via end-to-end global trade support from partner banks. It is anticipated that joining TCA will

increase DIB’s trade volumes, deepen relationships with existing customers and attract new ones.

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