The Business Registration & Licensing (BRL) sector in the Department of Economic Development (DED), Dubai, has signed an agreement with Emirates Islamic to support holders of the e-Trader licences being issued by DED to facilitate and regulate business activity through social media and ensure transparency across such business activity.

The agreement was signed by Omar Bushahab, CEO of BRL, and Wasim Saifi, Deputy CEO, Consumer Banking and Wealth Management at Emirates Islamic, in the presence of various other officials from both sides

Commenting on the agreement, Bushahab said it’s part of BRL’s commitment to supporting and facilitating business for holders of e-Trader licences, thereby promoting competitiveness and sustainability across their business initiatives. DED will continue to provide the ideal environment and support for e-Traders through creating partnerships with government and private sector entities, added Bushahab.

“The e-Trader licence provides many privileges to its owners, including the ability to evaluate buyer needs and customer preferences through user feedback and comments. The programme makes it easy to search for a project through the type of activity or brand name, and the buyer’s access through all communication channels are recorded on one page, thus making it easier to reach out to new customers,” Bushahab said.

“We are delighted to sign this agreement with the Department of Economic Development to support e-Trader, a first-of-its-kind initiative in the Middle East, and contribute together to the growth of the UAE economy,” said Wasim Saifi.

“As one of the leading financial institutions in the UAE, we at Emirates Islamic are committed to supporting the Dubai Plan 2021 launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, while also implementing the main objectives of UAE Vision 2021. The agreement with DED will enable us to support the e-Trader initiative by opening bank accounts, providing expert banking services, as well as offering special privileges and exclusive benefits to help entrepreneurs convert their e-Trader licences to successful projects of the future, ultimately contributing to the growth of our national economy.”

The e-Trader licences involve business activities conducted on social networking sites by UAE nationals and GCC citizens living in the emirate of Dubai.