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Turkey's Largest Bank Establishes Dubai Operations,
by Lorys Charalambous, Tax-News.com, Cyprus
Thursday, December 10, 2009
Akbank, Turkey’s most valuable bank and company in terms of market capitalization, on December 8 commenced the operation of its Dubai office at the Dubai
International Financial Centre (DIFC).
Akbank (Dubai) is the first Turkish Bank to set up at the DIFC. It aims to
become one of the preferred consultants in Investment Banking & Corporate
Finance in the region by leveraging the expertise and knowledge of its parent
company and its local staff in the Dubai office.
Ahmed Humaid Al Tayer, Governor of the DIFC,
commented: “We are very happy to welcome Akbank to the community of financial
institutions in the DIFC. Akbank’s decision to establish a presence in
DIFC to target the regional market supports the process of deepening the already
robust economic ties between the UAE and Turkey. Akbank’s move also reflects
the continued confidence of the global financial industry in Dubai, the DIFC
and the financial services opportunities that the Middle East and GCC regions
offer. By working together with Akbank, we hope to tap growing complementarities
and partnership opportunities between the financial sectors of these dynamic
markets.”
Chair of Akbank, Suzan Sabanci Dinçer, who made the opening speech at
the event, commented: “Turkey’s relations with its Middle Eastern
neighbours have been on the rise, with the region becoming Turkey’s second
most important trade partner after Europe. Today, more than ever, Turkey and
GCC countries have ever increasingly common interests.”
Dinçer added: “As the leading Turkish Bank, our international strategy encompasses
reaching towards both the West and the East in line with Turkey’s national
endeavour as the integral bridge between Eastern and Western parts of the world.
As such, I am very happy to announce that, with the launch of our operations
in Dubai, our commitment to fostering business ties between Turkey and the Middle
East will be stronger than ever.”
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