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11 Jul 2019

Commercial Bank of Dubai Partners with FEWA for Payments and Cash Management Solutions

​Commercial Bank of Dubai (CBD) recently signed a partnership agreement with the Federal Electricity and Water Authority (FEWA), to provide payments and cash management solutions. 
The partnership signing ceremony was held in FEWA’s Head office, Dubai and was attended by Fahad Al Muhairi, General Manager – Islamic Banking of Commercial Bank of Dubai, and Shaikha Murad Karam, Acting Director of Finance in FEWA, as well as senior management from both organizations.
Through this partnership CBD will support FEWA in improving its receivables processes by providing them with innovative digital banking solutions to improve operational efficiencies.
Shaikha Murad Karam, Acting Director of Finance in FEWA said, “AS part of FEWA efforts to fully automate its process as part of overall digital transformation plan, it sought to sign this partnership agreement with CBD, through which FEWA will have access to a range of Payments and Cash Management solutions for receivable automation. The Remote Cheque scanning solution from CBD allows FEWA to process the current and post-dated cheques across their branch offices".
Karam added that this partnership with CBD will achieve a set of mutual benefits. For the client, it guarantees the payment of his dues at the moment of submitting the Cheque without any delay, and for FEWA it provides about two days of entering the receivables in its account, ease of use, saving time and efforts to many related parties.

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