The Dubai Department of Economic Development (DED) and Dubai Islamic Bank (DIB) have signed an agreement to facilitate electronic payment of new trade licence fees, as well as for renewed and amended licences through DIB’s branches.

As per the agreement, Dubai Islamic Bank will provide DED with electronic systems services to facilitate the review of banking settlement and also present a weekly detailed report covering all transactions and procedures that took place during the preceding week.

“The Department of Economic Development signed agreements with a number of corporations in the finance sector in 2009 to ensure providing added-value service to clients through eServices that easily facilitate the process of attaining trade licences and thus give more flexibility for investors and customers,” said Sami Al Qamzi, director general, DED.

“Through our line of innovative electronic banking services, we are pleased to offer a convenient payment solution to entrepreneurs and investors seeking to establish their businesses here,” added Abdulla Al Hamli, chief executive, Dubai Islamic Bank.-TradeArabia News Service