Arab Bank has commenced its Gulf and Yemen back-office operations at Dubai Outsource Zone (DOZ), the world’s first special economic zone for the outsourcing industry and a member of Tecom Investments.

Headquartered in Amman, Arab Bank has had existing banking operations in the Middle East for over seven decades.  As a subsidiary owned entirely by Arab Bank, the first private financial institution in the Arab world, Arab Company for Shared Services will handle the back-office transactions of the bank for UAE, Qatar, Yemen and Bahrain, with an estimated 300 employees to be based at DOZ (including employees from Arab Bank, 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.

“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,' stated Ismail Al Naqi, executive director, Dubai Outsource Zone.

“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.”

“Not only will the move help us fulfill our strategic vision to centralise and standardise, it will also synergise our core business processing,” added K S Shankar, managing director of Arab Company for Shared 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.-TradeArabia News Service