Sunday 20, May 2018 by Jessica Combes

Al Ahli Bank of Kuwait opens new branch in DIFC

 

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 (DFSA) and the branch will serve as a regional hub for ABK’s wholesale banking, corporate finance and financial institution services.  The Bank has appointed Tom Lind as Senior Executive Officer to lead its operations at the new branch.

“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,” said Lind.

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. 

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