15 Jul 2006
Emirates Post and State Bank of India, the largest bank in India, have discussed opportunities for working together in the UAE and India, and to market each others’ products and services in their regions. Abdullah Al Daboos, director-general of Emirates Post and chairman of Wall Street Exchange, met Om Prakash Bhatt, Chairman of State Bank of India, in Mumbai recently, and both agreed to enhance mutual business cooperation. The discussions centred on how Wall Street Exchange could use SBI’s extensive network in India for remittances, as SBI has over 9,000 branches across India. The two officials also discussed how SBI could use Emirates Post’s network in the UAE to access the large Indian population.
“Wall Street Exchange is set to expand its market and we are seeking to use SBI’s extensive network to deliver money sent from the UAE to the farthest corners of India,” said Al Daboos. “Further, as Emirates Post has a network of over 82 branches, we can provide crucial access to SBI to market its products and services to the large Indian population in the UAE.”
The meeting was also attended by Abdullah Al Suwaidi, assistant director-general, International Relations, and Prashant K. Gulati, adviser, Emirates Post. The two sides agreed to set up working teams to identified areas of cooperation and draw up a memorandum of understanding as part of the move to enhance mutual cooperation.
This article originally appeared on Gulf News.