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Saturday, November 28 - 2009

Abu Dhabi Commercial Bank becomes a Transguard customer

  • United Arab Emirates: Wednesday, November 05 - 2003 at 14:03
  • PRESS RELEASE

Transguard, the Emirates Group's security services provider, has made an agreement with the Abu Dhabi Commercial Bank (ADCB) for the secure transportation of cash between the bank's branches and its customers and the cash replenishment and management service for its automated teller machines (ATMs).

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  • Sheikh Ahmed and Mr Rashid Humaid Al Mazroei are pictured after signing the agreement under which Transguard will provide cash management services to the Abu Dhabi Commercial Bank.
    Sheikh Ahmed and Mr Rashid Humaid Al Mazroei are pictured after signing the agreement under which Transguard will provide cash management services to the Abu Dhabi Commercial Bank.
Transguard are currently handling over 250 ATMs in the UAE.

The agreement was signed on behalf of Transguard by His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Emirates Group, with Mr Rashid Humaid Al Mazroei, an ADCB board member, signing on behalf of the bank.

Sheikh Ahmed said after the signing: "We welcome this opportunity to include the Abu Dhabi Commercial Bank among the valued customers of Transguard. In a short time, Transguard has established internationally-recognised security services within the UAE and in doing so, is contributing to the development of Dubai as a financial centre - a key aim of the Government."

In providing its cash management services, Transguard will use its specialised armoured vehicles and the state of the art Cash Management Centre in the Dubai Airport Free Zone where bank notes and coins are sorted and packaged to the UAE Central Bank standards.

Mr Rashid Humaid Al Mazroei said: "ADCB is very glad to be associated with Transguard and the Emirates Group. We are sure that this association will further enhance our operations and thus our customer service. We are sure the professionalism that Transguard brings will contribute positively to all our logistical operations."

Transguard offers a range of world class, premier security solutions with specialised services to international and regional clients. Since its inception in 1997, the company has seen phenomenal growth. It offers the highest levels of insurance facilities in the market and maintains the largest fleet of armoured vehicles with satellite tracking systems. Transguard is certified to ISO9001 standard.

Dr Abdulla Al Hashimi, Senior Vice President Emirates Group Security, said "Transguard intends to play a key role as a security services provider at the Dubai International Finance Centre (DIFC). Now, with the gracious support of Sheikh Saif bin Zayed Al Nahyan, Under Secretary Ministry of Interior, Transguard will soon begin its operations in Abu Dhabi".
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Notes and media contacts

Abu Dhabi Commercial Bank (ADCB) was formed in 1985, as a public shareholding company with limited liability, upon merger of Emirates Commercial Bank and Federal Commercial Bank with Khaleej Commercial Bank.

ADCB's paid up share capital of AED 1,250 million (USD 340 million) is the largest in the UAE. The Government of Abu Dhabi, through Abu Dhabi Investment Authority (ADIA), holds 65% of the capital while the rest is held by various UAE Institutions and Nationals.

ADCB is among the top three banks in the UAE in terms of Shareholders' Funds with a total of AED 4,398 million (USD 1,197 million) as of 31 December 2002.

Contact:
Fay Thompson, Media Relations, Tel: (+9714) 203 2142, Mob: (+97150) 657 2425

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