Sberbank has started selling UAE dirhams in cash in several Moscow branches, the credit institution said in a statement.
"Sberbank now offers an opportunity to buy and sell dirhams - the currency of the United Arab Emirates (UAE) - in cash. The service is implemented in a test mode to understand the demand for such a service," the bank said on Thursday.
Currently, dirhams can be purchased in five Moscow offices of Sberbank. The bank stressed that if demand for the currency proves high, the number of branches will increase.
" The UAE is a popular tourist destination for Russians, on the one hand, and actively develops business relations with this country, on the other hand. In addition, it is possible to invest in dirhams, because the dynamics of this currency is similar to the US dollar. As the demand for the service grows, the number of offices working with this currency will increase. We are also considering the possibility of launching operations with dirhams in non-cash form," said Director of Sberbank's Borrow and Save Division Sergey Shirokov.
GSV "Russia - Islamic World"
Photo: V. Vizu/Creative Commons 3.0
Based on materials from TASS