Emirates NBD, UAE’s largest lender, Monday inked a Memorandum of Understanding (MoU) with Bank Hapoalim, Israel’s biggest bank, as fruit of normalization between the two countries.
The agreement announced by Dubai Media Office, Gulf Business reports, will allow Israeli clients to transact directly in the UAE.
Bank Hapoalim’s CEO Dov Kotler announced the signing last week but stopped short to name Emirates NBD.
Kotler led an Israeli business delegation to the Gulf country early this month after both countries on August 13 announced a normalization deal which provide a wide range of cooperation between the two countries.
US President Donald Trump is to host today September 15 Sheikh Abdullah bin Zayed Al Nahyan, UAE Minister of Foreign Affairs and International Cooperation and Israeli Prime Minister Benjamin Netanyahu for signing of historic agreement.
First Abu Dhabi Bank is set to sign a MoU with Bank Hapoalim and Bank Leumi; another Israeli lender.
UAE’s largest bank signs MoU with Israel’s leading Bank Hapoalim
