Israel’s Leumi signs deals with UAE’s FAB, Emirates NBD banks

Israel’s Leumi signs deals with UAE’s FAB, Emirates NBD banks

Bank Leumi became the second Israeli lender after Hapoalim to have signed agreements with UAE banking giants to expand their presence in the second biggest economy of the region.Israel's second-biggest bank said on Tuesday that it had signed memorandums of understanding (MoUs) with First Abu Dhabi Bank (FAB) and Emirates NBD to help strengthen bilateral relations between the UAE and Israel.Israel's biggest bank Hapoalim signed an MoU with Emirates NDB on Monday.According to the MoUs, the banks agreed to advance ties with financial institutions in both countries, providing services such as clearance, credit lines, and foreign currency trade.Shmulik Arbel, head of the corporate and commercial division at Israel's Bank Leumi, is a firm believer on the business potential