Kenya: DIB Bank Kenya Plans to Bolster Trade Between Kenya and UAE

10 July 2023
Capital FM (Nairobi)

Nairobi — DIB Bank Kenya seeks to double support for small and medium-sized enterprises (SMEs).

The subsidiary of Dubai Islamic Bank PJSC (AE) also plans to boost trade between Kenya and the United Arab Emirates (UAE).

DIB Bank Kenya Board Member Steve Mainda expressed confidence in the Bank and its role in enhancing trade relations between Kenya and the UAE.

"With our Group office based in UAE, we are strategically positioned to facilitate trade between Kenya and the UAE. Our objective is to continue fostering investment and consumption drivers that accelerate local economic growth, encourage regional trade, and enhance economic cooperation," Mainda said during the official opening of the Sarit Branch in Nairobi.

"We will continue to provide innovative financial solutions tailored to the unique requirements of businesses operating between Kenya and the UAE," he added.

Embassy of the UAE Charge d'affaires Khalifa AlRayssi said that the UAE remains focused on strengthening bilateral trade with Kenya.

"The investment, business, and financial relationship between Kenya and the UAE hold immense promise for both nations. Through the strong partnership, these countries have leveraged their unique strengths to drive economic growth, create employment opportunities, and promote prosperity," AlRayssi said.

"The financial sector plays a vital role in facilitating business and investment between Kenya and the UAE. Both countries have established robust banking systems, providing a solid foundation for cross-border financial transactions," he added.

"The presence of the UAE banks in Kenya has enhanced access to financial services and fostered greater economic integration between the two nations."

Read the original article on Capital FM.

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