Dubai Multi Commodities Centre Authority (DMCC), a Free Zone authority dedicated to enhancing trade flows through Dubai, has signed a memorandum of cooperation (MoC) with India-based Bank of Baroda.

DMCC said that the MoC is designed to provide value added services to its registered companies and to further enhance the proposition of operating in the JLT Free Zone.

As per the MoC, companies licensed by DMCC will have access to a wide range of financial products and services provided by Bank of Baroda.

The services include borrowings for property purchases in the JLT Free Zone, working capital and long-term financing, trade and commodity financing and other commodity related services.

Bank of Baroda offers full fledged banking services in UAE through its six branches and four customer service centers.