Ahli United Bank Limited (AUBL), a 100%-owned subsidiary of Ahli United Bank, has opened an office at the Dubai International Financial Centre (DIFC), becoming the first GCC bank to receive the Category 1 licence from the Dubai Financial Services Authority (DFSA).
The new office offers corporate and private banking, wealth management, trade finance, treasury and cross-border financial products and services to clients based in the UAE as well as the wider Middle East region.
“The expansion into the UAE market, through a presence at DIFC, is in line with AUB Group’s strategy to develop an integrated banking presence in markets across the GCC region and to act as a preferred regional intermediary for clients with regard to securing their cross-border banking needs,” reads a statement issued by the bank.
CB Ganesh has been named as the CEO of the new branch. He comments on the launch: “Our presence at DIFC allows us to work closely with our existing clients in the UAE and attract a new client base. AUBL has already registered high interest from AUB Group clients across the UAE and the region. In the upcoming period, we will work to significantly develop and enhance these relationships through offering tailored, need-based services.”
The AUB Group already has offices in Bahrain, Kuwait, Oman, Egypt, Iraq and the UK.