Overview
Benefit from our long-standing experience in correspondent banking and enjoy access to our extensive global network of correspondent relationships
Efficient management of international transactions has become essential as the UAE emerges as a key international financial and trading hub and as foreign trade becomes the cornerstone of the UAE’s economy. Over the years, our Financial Institutions team has built up an extensive network of local and international banking partnerships with our correspondent partners to provide greater flexibility and seamless service to meet the needs of our clients dealing in international transactions.
An important agenda nowadays is to focus on Africa as a new and growing market and to support our Trade, Commodity Finance, and Corporate colleagues. The Financial Institutions Team is working closely with internal stakeholders to ensure that client needs are met efficiently and that the CBD Brand is heightened in existing and new geographical markets.
Coverage
With a global perspective in mind, we have established broad networks globally and in the region to ensure the best experience for our customers
Our team consists of industry experts with mandate to serve the needs of Financial Institution (FI) Clients, which include local and international banks. We keep our FI Clients at the centre of everything we do and ensure that we continue to strive to provide best-in-class services and that we act as an enabler to these institutions.
The team carries decades of work experience covering FI Clients and each Relationship Manager is able to draw on their own competitive strengths. At CBD FI, we remain committed to building strong relationships, understanding clients’ needs and delivering the services you require.
Solutions
We offer products and channels that ensure that we are able to meet our clients’ various requirements. We value our relationships through established SWIFT arrangements with nearly 1,000 correspondent banks from more than 86 countries. We are committed to continued growth in the field of correspondent banking.
Nostro account relationships in different currencies provide banking services to our clients where we do not have a physical presence.
CBD maintains a large number of Nostro/Vostro accounts with carefully selected leading banking institutions in different currencies that facilitate fund transfer/trade/treasury/foreign currency drafts and investment banking solutions, import/export letters of credit and collection documents for our clients.
Vostro accounts enable us to make quick and efficient settlements via book transfers for our clients.
Facilitation of Letters of Credit
Through our global correspondent banking partners, CBD facilitates Import/Export Letters of Credit, Collection Documents, and Fund Transfers, among others, for our clients.
Through the strong and vast correspondent banking relationships, CBD facilitates the issuance of local and overseas Guarantees:
- Bid-Bond
- Advance Payment
- Performance
- Retention
- Financial
Other ways to connect
Download CBD App - and open an account in minutes.
Access your financial future from the palm of your hand.
Accessibility
