DUBAI: The National Bank of Dubai link, thelargest banking group in the emirate, signed a memorandum of understandingMonday with Israel’s Bank Hapoalim link, on theeve of the UAE-Israel normalisation accord signing.
“It is a great honour to be the first bank to sign such an agreement thatwill contribute to the establishment of the relationship between the twocountries,” Bank Hapoalim’s CEO, Dov Kotler, said in a statement issued byNBD.
It said the MoU was “part of a broader engagement between the UAE andIsrael to further peace, dialogue and stability and establish cooperationto promote sustainable development”.
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An Israeli business and banking delegation arrived in Dubai last Tuesday onthe first such visit since the August 13 announcement of a normalisation ofties between the Jewish state and the United Arab Emirates, of which Dubaiis a member. On Tuesday in Washington, both the UAE and fellow Gulf stateBahrain are to sign normalisation accords with Israel. -APP/AFP
