Deutsche Bankhas become the first large international financial institution to register for a licence with the Dubai International Financial Centre (DIFC). It joins the Swiss boutique bank Julius Baer, which has already made a commitment to establish a regional presence in DIFC.
The German bank is also understood to be in negotiations with DIFC to take on the financial advisory mandate for its $500 million-700 million real estate development, to be built on a site south of Sheikh Zayed Road.
Deutsche Bank's first step will be to move its local representative office to DIFC (MEED 4:10:02).
Executive board member Pierre de Weck said on 7 October: 'We will size our resources in line with the opportunities on offer in the DIFC.'
You might also like...
Policy designates Masdar, Adnoc as hydrogen coinvestors
29 March 2024
Waste energy projects find relevance
29 March 2024
Iraq signs five-year gas deal with Iran
29 March 2024
Iraq pushing forward with refinery project
29 March 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.