BANKING IN THE UAE
UAE’s stable and secure banking sector is regulated by its Central Bank, which has a supervisory as well as regulatory function for following banking types:
Commercial banking: serving start-ups and SMEs in the UAE enabling smooth and flexible banking facilities
Retail Banking: for individual customers with access to over 50 retail banks’ personal savings and current accounts, vehicle and personal loans, debit and credit cards
Investment banking: with high ROIs
Islamic banking: governed by Shari’a Law and the Federal Law No. 6 of 1985 with the strategic goal of UAE becoming a global center for Islamic banking
Benefits of Banking Within UAE Banks provide:
Swift transfer for international markets and IBAN numbers for the European markets.
Multi-currency accounts such as (AED, USD, Euro, GBP …etc)
A friendly online portal system for e-banking transactions
The facility to obtain credit and debit cards
Cheque books as well as a token device to secure your transactions
Support for letter of credit, bank guarantee, and other commercial banking facilities
An easy phone banking system and mobile applications for internet banking transactions
Excellent international reputation of security and confidentiality
Opening a Bank Account in the UAE
is simple, safe, and regulated by the Central Bank. EFT will evaluate your business and personal profile to identify suitable banks for your requirements, as well as support you with contacts and personal appointments. Once the application has been filed, the account is opened within a short period of time for you to debit your account and start your business operations.