Dubai. CRDB Bank has officially established a footprint in the Middle East after being granted a representative office licence by the Dubai International Financial Centre (DIFC).
This development marks the first time a bank from Tanzania, or the broader East and Central African region, has gained regulatory approval to operate within Dubai’s prestigious financial hub.
The official certificate was presented by Arif Amir, the Chief Executive Officer of the DIFC, to a senior leadership delegation from CRDB Bank.
The group representing the lender included Board Chairperson Prof Neema Mori, Vice-Chairperson Dr Donald Mmari, and Group Managing Director Abdulmajid Nsekela.
Expanding global trade corridors
The establishment of this office is a strategic move designed to link East African markets with global capital.
By maintaining a physical presence in Dubai, CRDB Bank intends to streamline trade finance and investment flows between the Gulf states and Africa.
This new channel is expected to simplify cross-border transactions for regional businesses and provide a dedicated gateway for international investors seeking opportunities in Tanzania’s growing economy.
Beyond corporate interests, the office will serve as a crucial link for the Tanzanian diaspora living and working in the United Arab Emirates.
It provides a formalised route for the community to manage their financial affairs and access banking services from their home country more efficiently.
A new chapter for regional banking
The bank’s leadership noted that this expansion is a key component of their wider strategy to internationalise their operations and enhance the visibility of African financial institutions on the world stage.
“CRDB Bank is becoming the first bank in the country and the East and Central African region to receive approval to provide services in Dubai, opening further doors for international trade and investment,” the bank confirmed in a statement following the ceremony.
By joining the DIFC ecosystem, one of the most advanced financial environments globally, CRDB Bank is positioned to offer enhanced connectivity for entrepreneurs across the region, potentially setting a precedent for other African lenders to follow.
