Abu Dhabi - Mubasher: Abu Dhabi Islamic Bank (ADIB) has signed a Memorandum of Understanding (MoU) with Bank Leumi, one of Israel’s largest banking corporations, to explore new business and trade opportunities for their customers and areas for future cooperation between the UAE and Israel.
Under the MoU, ADIB and Bank Leumi will cooperate in providing organisations in the UAE and Israel with banking services, including cash management, trade finance, corporate accounts, and foreign exchange solutions.
ADIB’s Vice Chairman, Khamis Buharoon, said: "This landmark partnership, which is aligned with both nations’ common goal to forge strong economic and commercial ties, will support our retail and corporate banking customers in their banking needs when traveling or opening businesses in Israel."
In addition, the President and CEO of Bank Leumi, Hanan Friedman, commented: "The signing of the Abraham Accords represents a new dawn for relations between our two countries."
It is noteworthy to mention that on Wednesday, Emirates NBD has signed a MoU with Bank Leumi, as part of the agreement between the UAE and Israel to further peace, dialogue, and stability.
