The National Bank of Abu Dhabi (NBAD) has announced the launch of its wholly-owned subsidiary National Bank of Abu Dhabi Malaysia in capital Kuala Lumpur. It is the bank's first branch in Southeast Asia.
With this launch, NBAD has expanded its global network to 14 countries, said a senior official.
'The opening of the first branch in Southeast Asia is a major step for NBAD. Southeast Asia is one of the fastest growing regions of the world with a strong commercial link to the UAE and GCC,” remarked Qamber Ali Al Mulla, the senior general manager of International Banking division of NBAD.
“Malaysia represents a strategic importance as a regional hub. The move demonstrates our confidence in the local market and in our ability to provide excellent products and services in the region,” he stated.
The UAE was Malaysia’s biggest trading partner in the GCC in 2011 with MYR 21.06 billion of trade flows. Bilateral Trade with the GCC stood at MYR 43.76 billion.
“We are strategically positioned to bridge Arab business interest with Malaysia and to promote bilateral trade and investments as we have a firm foothold in the U.A.E. complemented by a strong presence in the GCC and MENA regions,” said Leong See Meng, the CEO of NBAD - Malaysia.
NBAD - Malaysia, a fully licensed conventional commercial bank, offers a full suite of wholesale banking solutions to serve the unique requirements of Malaysian conglomerates, multinationals, manufacturers and exporters, he added.
NBAD has been ranked since 2009 one of the World’s 50 Safest Banks, and has advanced every year in the ranking to become the safest bank in the Middle East.
NASDAQ Dubai Academy course to cover vital principles
NASDAQ Dubai Academy will provide a training course devoted to key corporate governance principles and best practices, as part of the exchange's drive to promote corporate excellence in the region. <
SABIC unveils 'Archi-Light Concept House'
SABIC unveiled the 'Archi-Light Concept House' at the official opening ceremony of Chinaplas 2013. Archi-Light is a themed exhibition within the larger show, which focuses on environmentally friendly
MAF Holding proposed subordinated perpetual notes assigned 'BB+'
Dubai-based retail property conglomerate Majid Al Futtaim Holding (MAF Holding) proposes to issue subordinated perpetual notes through MAF Global Securities, unconditionally and irrevocably guarantee
KFH-Malaysia takes part in IFSB meetings
KFH-Malaysia took part in the meetings held by the Islamic Financing Services Board (IFSB) that have been hosted by the Malaysian Central Bank recently in the Malaysia capital.
The meetin
NBK Capital exits Turkey hospital chain
NBK Capital, a leading bank in Kuwait, has announced the sale of its equity stake in Dunya Goz, Turkey’s largest ophthalmology hospital chain, to the founding shareholder.