Dubai – Mubasher: Emirates NBD, a leading banking group in the Middle East, North Africa, and Turkey (MENAT) region, has signed a Memorandum of Understanding (MoU) with Israel's Bank Hapoalim, according to the Dubai media office.

The MoU is part of an agreement between the UAE and Israel to further peace, dialogue, and stability and advance the banking and financial cooperation.

The CEO of Bank Hapoalim, Dov Kotler, commented that the agreement with an Emirati leading bank will enable Israeli customers to transact directly in the UAE and other countries.

Meanwhile, the Group CEO of Emirates NBD, Shayne Nelson, remarked: "The MoU will open new business and trade opportunities for our clients and further enhance our leading position as a trusted banking partner to businesses across the MENAT region.”

It is noteworthy to mention that in early September, First Abu Dhabi Bank (FAB) has announced its objective to open discussions with leading financial institutions in Israel, especially Bank Hapoalim and Bank Leumi, to establish banking relationships.