Ahli United Bank sets up UAE base in DIFC

24/03/2016 07:46 AST

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 cross-border 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. We look forward to effectively servicing our UAE and regional customers through a dedicated presence in this country as their trusted partner of choice."


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