Arab Bank Begins Back-Office Operations at Dubai Outsource Zone

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Dubai Outsource Zone (DOZ), a member of TECOM Investments, today announced the Arab Company for Shared Services FZ LLC has commenced Arab Bank’s Gulf and Yemen back-office operations at the world’s first special economic zone dedicated to the outsourcing industry.
 
Headquartered in Amman, Jordan, Arab Bank has had existing banking operations in the Middle East for over seven decades. As a subsidiary owned entirely by Arab Bank Plc, the first private financial institution in the Arab world, Arab Company for Shared Services will handle the back-office transactions of the bank for the UAE, Qatar, Yemen and Bahrain with an estimated 300 employees to be based at DOZ (including employees from Arab Bank Plc, UAE). 
 
The Arab Bank’s back-office operations at DOZ will aim to centralize and standardize core business processes tailored to the needs of the GCC market. Business processes include back-office related transactions.
 
Ismail Al Naqi, Executive Director, Dubai Outsource Zone, said: “DOZ facilitates companies to access resources, partnerships and ideas in a business environment that enables companies in the outsourcing industry to gain a stronger foothold in the region. The immense opportunities DOZ provides for business partners as a networking platform will continue to attract reputed global companies and small medium sized enterprises from a broad range of industry verticals.
 
“We are proud to host the back-office operations of Arab Bank and look forward to welcoming similar major entities as part of DOZ’s endeavour to support Dubai’s ambition of creating knowledge-based economies in the region.”
 
K.S. Shankar, Managing Director of Arab Company for Shared Services, said: “As part of the Arab Bank Group, we look forward to operating out of Dubai Outsource Zone, a premier outsourcing destination in the Middle East. Not only will the move help us fulfill our strategic vision to centralize and standardize, it will also synergize our core business processing. Moving back-office operations to the GCC region will also help us better service a market where we already enjoy a large presence.”
 
Dubai Outsource Zone has evolved into a base for both captive and third-party operations, providing mid to high end outsourcing services. The special economic zone currently hosts 82 companies in sectors including banking and finance, accounting, IT, payroll processing, engineering, research and development as well as design.

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