Commercial Financial Services
The term “commercial financial services” refers to the kind of services that are generally offered by a commercial bank to its customers. Often, these are in the form of banking (savings, loans, and remittances), credit card marketing and processing, insurance, and brokering services. There are, however, specialised companies that confine their services only to specific purposes, such as mortgages, life or non-life insurance, or stock brokering.
Dubai International Financial Center (DIFC)
The majority of financial services in developed markets around the world consist of housing, mortgage and vehicle loans; personal and industrial banking; credit card and collection services; and underwriting of major infrastructure projects and international trade transactions. The everyday services they provide include processing bills payments, foreign currency conversions (money changer services), cash advance processing, company payroll management, processing foreign remittances, and basic banking (deposits and withdrawals, including ATM-based processes).