Ahli United Bank sets up UAE base in DIFC

The Pak Banker - - FRONT PAGE -

Ahli United Bank Lim­ited (AUBL), a sub­sidiary of Ahli United Bank, has launched op­er­a­tions in the Dubai In­ter­na­tional Fi­nan­cial Cen­tre (DIFC). AUBL is the first bank in the GCC to re­ceive the cat­e­gory 1 li­cence from the Dubai Fi­nan­cial Ser­vices Au­thor­ity (DFSA).

Essa Kazim, gover­nor of DIFC, met a del­e­ga­tion from the bank man­age­ment. The del­e­ga­tion in­cluded Adel El-Lab­ban, manag­ing di­rec­tor and Group CEO of AUB Group, and C.B. Ganesh, CEO of AUBL's new branch at DIFC.

Through its of­fices in DIFC, AUBL of­fers cor­po­rate bank­ing, pri­vate bank­ing, wealth man­age­ment, trade finance, trea­sury and cross­bor­der fi­nan­cial prod­ucts and ser­vices to clients based in the UAE and the Mid­dle East.

Kazim said: "AUBL's de­ci­sion to op­er­ate out of the Cen­tre re­in­forces our 2024 Strat­egy and fur­ther strength­ens DIFC's po­si­tion as a lead­ing global hub for busi­nesses and fi­nan­cial in­sti­tu­tions seek­ing growth op­por­tu­ni­ties across the Mid­dle East, Africa and South Asia."

El-Lab­ban said: "We are grate­ful for the sup­port and co­op­er­a­tion we have re­ceived from DFSA and DIFC. The launch of our op­er­a­tions in the UAE rep­re­sents yet an­other im­por­tant mile­stone in AUBL's evo­lu­tion as a di­ver­si­fied re­gional bank.

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