Emirates Bank signs with Tejari.com

Major UAE financial powerhouse opts to do its procurement of computers, furniture, and supplies, online through Middle East B2B exchange, Tejari.com

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By  Colin Browne Published  March 25, 2001

Emirates Bank Group (EBI) will begin online procurement of goods and services through UAE-based B2B exchange Tejari.com, the two announced today.

The group will utilize Tejari as the “back-end” procurement mechanism to complement its “front-end” services of Internet banking, and strengthen its online strategy.

The Emirates Bank Group’s membership on the Tejari exchange will enable it to reduce procurement costs for its banking infrastructure, including IT equipment, office fittings, and even outsourced services, according to an EBI release.

Through Tejari, the group can also reach a global market for its banking and insurance offerings.

“Emirates Bank Group is the most Internet-focused and technology-driven banking institution in the UAE and the Middle East region. We were the first to introduce Internet banking among local and regional banks. Today, we are again the first among banks, to introduce Internet procurement in association with Tejari.com. This association will complement our range of sophisticated and technology-driven initiatives,” said Abdulla Qassem, chief manager for Information Technology for the Emirates Bank Group.

“Within Tejari’s marketplace, EBG would be able to reinforce it expansion into the global market and increase its buying power online, while improving the efficiency in its procurement requirements,” added Jamal Bin Ghalaita, senior manager, Group Human Resources, Emirates Bank Group.

As a member of Tejari, the Emirates Bank Group will use the exchange to create tenders and auctions for the goods it needs to procure.

“The Emirates Bank Group has consistently demonstrated its leadership qualities in the adoption of technology to better serve its clients. By joining Tejari, the group is also setting an example of greater internal efficiency and market expansion online,” said Lubna Al Qasimi, managing director of Tejari.com.

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