Business & Money | Sunday 20 May, 2018 12:01 pm |

Al Ahli Bank of Kuwait (ABK) announced today the opening of its Dubai International Financial Centre (DIFC) branch in the UAE.   ABK (DIFC) is a branch of Al Ahli Bank of Kuwait K.S.C.P, a public shareholding company incorporated under the laws of Kuwait and listed on the Boursa Kuwait. Al Ahli Bank of Kuwait K.S.C.P is licensed by the Central Bank of Kuwait as a banking institution and operates in Kuwait, UAE and Egypt.   

ABK (DIFC) has obtained a Category 2 Operating License which is regulated by the Dubai Financial Services Authority and the branch will serve as a regional hub for ABK’s wholesale banking, corporate finance and financial institution services.  The Bank has appointed Mr. Tom Lind as Senior Executive Officer to lead its operations at the new branch. 

Mr. Lind said: “ABK (DIFC) will further the Bank’s regional expansion strategy by providing a regional hub to seamlessly service corporates and multinationals across the Bank’s operations in Kuwait, UAE and Egypt. The Bank will also be able to access and benefit from the deep pool of specialist financial talent that already exists in the UAE.” 

ABK (DIFC) will be fully compliant with the DIFC and DFSA rules and regulations in all its dealings and operations and will only transact with corporate clients and financial institutions that are Market Counterparts or Professional Clients, as defined by the DFSA rule book.