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Dubai, 23 February, 2010 - Citibank, a member of Citi, yesterday inaugurated the Jebel Ali Financial Center, its sixth financial center designed to provide target customers with a full suite of banking services closer to their offices as well as their homes. Located near Dubai Metro at The Galleries, a mix of A-grade offices, residential and retail space in Dubai’s industrial free zone, the new financial center offers a wide range of personalized financial planning solutions to help customers achieve their financial goals in a friendly and comfortable atmosphere. The new financial center also offers a basket of business and financial solutions for Small & Mid-Market Enterprises. These include a complete range of Cash Management, Trade, Treasury and Lending solutions. The bank has recently unveiled two new products - Cheque/Bill Discounting and Trade Financing targeting this segment. Cheque/Bill Discounting involves discounting future receivables up to 80% of the value of the receivable, while Trade Financing involves issuance of guarantees and letters of credit for active traders. Both products are backed up by a team of seasoned relationship managers who immediately act upon a client’s need for the issuance of customized trade documents, or for further credit to a trade finance account. “Jebel Ali Financial Center is in line with our goal to seek out our valued customers, wherever they may be, and provide them with the service they require in a timely fashion,” said Sanjoy Sen, Citibank’s Consumer Bank Head – Middle East. “We want to serve clients close to home and office by offering Citi’s comprehensive banking platform through the right channel.” Citi has been in the Middle East for nearly 50 years and currently offers consumer-banking services in the UAE, Bahrain and Egypt. In the UAE Citibank, the consumer banking arm of Citi, is currently a major player in the UAE’s credit card market and a leading provider of banking, Wealth Management and Consumer credit services.
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