Dubai Islamic Bank joins Dubai Trade's e-payment gateway

Dubai Trade, the trade facilitating arm of Dubai World, and Dubai Islamic Bank (DIB) have signed an agreement to integrate the banks' direct debit services with the portal's e-payment gateway Rosoom.

The partnership will enable supply chain companies using Dubai Trade portal www.dubaitrade.ae to access their DIB accounts online and execute monetary transactions seamlessly, the company said in a release.

Mahmood Al Bastaki, director, Dubai trade, and Musabbah Al Qaizi, head of electronic banking, DIB, signed the agreement.

Rosoom, the e-payment gateway for the online services of DP World, Jafza and Dubai Multi Commodities Centre (DMCC), serves importers, exporters, freight forwarders, clearing agents and haulers as a single window for all trade related transactions. Rosoom offers Dubai Trade customers secure multiple payment methods to settle their bills and save on time, effort and cost.

"Dubai Trade is honoured to enter into this partnership with a reputable financial institution like Dubai Islamic Bank. This initiative will further empower our vast trading community with innovative new tools to conduct their businesses in a secure environment. It is part of Dubai Trade's commitment to bring added value to its supply chain e-services that have already won praise for sharpening the competitive edge of the business sector in the UAE," Mahmood Al Bastaki, director of Dubai Trade, said.

 "Dubai Trade has a remarkable track record of supporting Dubai's trading industry through technology. For Dubai Islamic Bank, the integration of our banking facilities with Dubai Trade is a natural extension of our desire to serve the customers better. We are happy to play a role in Dubai Trade's efforts to promote e-commerce in line with Dubai government's policies," Musabbah Al Qaizi, head of electronic banking at DIB, said.

Dubai Trade portal, www.dubaitrade.ae, offers a seamless, cost effective business flow for clients using it as the single window for the online services of DP World, Economic Zones World, Dubai Customs, and Dubai Multi Commodities Center.