Bank ABC opens branch in Dubai

MANAMA: Bahrain-based Arab Banking Corporation (Bank ABC) has announced the opening of a branch in the Dubai International Financial Centre (DIFC).

Bank ABC’s decision to open a branch in the DIFC is part of a plan to expand its international network, which already spans 18 countries in five continents.

“We are pleased that the Dubai Financial Services Authority (DFSA) has granted Bank ABC a licence to operate in the DIFC.

The DIFC branch is authorised to advise, arrange and market wholesale banking and treasury products and services for professional clients,” said Bank ABC Group chief executive Dr Khaled Kawan.

“Opening the DIFC branch also reflects our commitment to our customers in the region. Dubai is a major global trade and investment centre, and our branch in the financial district will put us in a better and closer position to serve our clients.”

The DIFC branch has already commenced operations.

Allan Sword has been appointed senior executive officer of the branch.

In this role, Mr Sword will have the overall responsibility of leading Bank ABC’s UAE strategy across all wholesale banking and treasury and financial markets products, working closely with the other product lines and geography teams in the Bank ABC Group.

A fellow of the Association of Chartered Certified Accountants, he has worked for Bank ABC for 10 years.

Source: http://www.gdnonline.com/Details/194325/Bank-ABC-opens-branch-in-Dubai