Commercial Bank of Dubai to join Tejari

Commercial Bank of Dubai, one of the region's leading providers of financial services, has announced plans to join Tejari's business-to-business marketplace.

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By  Kate Concannon Published  January 4, 2003

Commercial Bank of Dubai (CBD) has announced plans to join the Middle East’s premier online business-to-business marketplace, www.tejari.com. In addition to expanding CBD’s base of suppliers through Tejari, the bank’s management anticipates it will cut costs by accessing more competitive online pricing and by boosting the efficiency of the organisation’s buying cycle.

“Our object in joining Tejari is to increase the selection and scope of our procurement activities to ensure that we’re receiving the best possible pricing, while consolidating the bank’s buying activities across different locations,” explained Ibrahim Abdulla, CBD’s deputy general manager of administration of and finance.

The decision to sign up with Tejari coincides with CBD’s plans to develop new headquarters and expand its branches and cash offices. Tejari membership is thus set to facilitate prompt and cost effective procurement for the purpose of establishing the new premises.

“As evidenced by the growing number of banks launching e-commerce and online payment initiatives, the financial sector is among the region’s most advanced industries in terms of technology adoption and awareness of the internet as a business enabler,” said Sheikha Lubna Al Qasimi, CEO for Tejari.

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