The recent pleasant change in DMCC business policies opened gates for established corporates to create ease for new entrants in Dubai by offering valuable services to promote UAE global business. The executive chairman and CEO of Dubai Multi Commodities Centre (DMCC) Ahmed Bin Sulayem, agreed with UAE-based banks to extend their partnership by providing cryptocurrency business opportunities with minimum restrictions.
The goal of this long-term partnership with Dubai authentic banks is to perform banking trade including cryptocurrency legal activities. The agreement gives relaxation to existing and fresh DMCC trading license holders to open digital bank accounts with those banks that signed the deal with DMCC.
According to CEO of one UAE-based Dubai bank explained the importance of this agreement by supporting DMCC license holder SME’s owners; that they can get a wide range of banking services including exclusive digital bank accounts with zero balance options for all cryptocurrency trading requirements. He further explained about the main factor behind creating this agreement was to assist entrepreneurs, fresh starters, and small-scale business owners who play a significant role in the growth of the national economy.
The CEO of the bank praises the importance of these fresh small-level commercial firms and supports them by explaining their significance that they deserve full help from banks of UAE, Dubai to boost their business related to cryptocurrency.
The perks of holding a DMCC trading license can get SMEs and entrepreneurs a smooth way of experiencing instant banking services with a complete package to resolve their business needs. The advantage of operating a digital trading business in DMCC crypto center can build new branches with UAE leading companies and gain full help from banking sector to expand their business globally.
Ahmed Bin Sulayem explained in detail by adding “Being home to over 19,000 companies of all sizes from around the globe, supporting existing and new members in every way possible has always been a top priority for DMCC.
We are committed to forming partnerships and leading initiatives aimed at enabling businesses to thrive in the UAE and beyond – cementing our position as a global trade hub and ensuring the UAE remains the destination of choice to do business”.
One bank owner stated that a partnership with DMCC will provide business accounts to all those companies who hold official DMCC trading licenses and in this category, the cryptocurrency enterprises are included if they follow the right principles for crypto trading in UAE, Dubai. The newly established DMCC crypto center will benefit all banks that signed this deal and crypto traders to continue their business activities with full support from UAE, Dubai administrators.
The bank owners also cleared the question related to any accounts that had been opened in DMCC Crypto Center for digital currency trading business companies by conforming that so far, they have not opened any cryptocurrency accounts.