Lloyds TSB Offshore Limited has announced that it has been licensed by Dubai Financial Services Authority to operate as an authorised firm in the fast-growing Dubai International Financial Centre (DIFC).
The expansion into the DIFC is primarily focused at promoting the bank's wealth management services to the professional and institutional market, in particular the Lloyds TSB range of offshore funds.
"Dubai is a key market for our Offshore Banking Division and we are delighted to now be in a position to extend the services offered across the Middle East," commented Jon Trounce, Senior Executive Officer, Lloyds TSB Offshore Limited Dubai.
"Relationships are paramount to our success and I am looking forward to working closely with intermediaries to build upon our presence in this important region," he added.
Dr Omar Bin Sulaiman, Director General of DIFC Authority observed that: “We are pleased to note that Dubai International Financial Centre holds great attraction for financial giants such as Lloyds TSB, one of the oldest and most respected financial institutions in the world."
The range of funds offered by Lloyds TSB offshore includes 'AA' and 'A' rated award winning funds (Standard & Poors UK Fixed Interest Review 2005/2006) and provides investors with opportunities for capital growth or income, with varying risk profiles.
A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp
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