Sber has started selling cash dirhams, the currency of the United Arab Emirates. About says in a press release published on the credit institution’s website.
You can now buy dirhams in cash from five bank offices on Sretenka, Zemlyanoy Val, Bolshaya Yakimanka, Vavilov and Bryanskaya streets. The bank also did not rule out expanding the list of branches serving in case the demand for the dirham is high.
Sergey Shirokov, head of the Borrow and Savings department at Sberbank, expects the service to be in demand. He explained that Russians often prefer the UAE for tourism and business trips.
“You can also invest in the dirham, as the UAE currency is similar to the US dollar in terms of exchange rate dynamics. Therefore, I expect the new service to be in demand. As it grows, so will the number of dirham-based offices,” said Shirokov.
The bank said that it is also considering the possibility of Sberbank to start a non-cash operation with dirhams.
formerly Sberbank announced improving consumer credit conditions. From February 1, in the first month, for any purpose or under the program of refinancing loans from other banks, it will be 4% instead of 4.5% per annum, and from the second month – 12.5%.
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.