Bank of China Middle East opens for business
Date: Jan 03, 2013
Categories: Transaction Banking
Keywords: BoC Middle East
December 28th 2012 - Recently, Bank of China Middle East (Dubai) Limited opened for business in Dubai, United Arab Emirates. As a wholly-owned subsidiary of Bank of China, BOC Middle East is the first business institution set up in Middle East by BOC.
With the highest level “Class A Permit” business license granted by local financial regulators, BOC Middle East provides all-round financial services, including deposit, project and trade finance, investment agent, investing and financing consulting and arrangement, asset management and escrow arrangement services etc.
BOC Middle East will, based on the overall advantages of BOC’s global network, commit itself to building of a more direct and convenient bridge of financial services for economic and trade activities among China, United Arab Emirates and other Middle Eastern and North African countries. Meanwhile, BOC Middle East will give full play to the geographical advantages of the position of Dubai, the center for Asia, Europe and Africa, to provide all-round and excellent financial services for multinational enterprises and other customers in such region.
Established in 1912, BOC is the only commercial bank having been continuously operating for a century in China, as well as a commercial bank with the highest level of internationalization and diversity in China. In November 2012, BOC was once again selected as “Global Systemically Important Financial Institution”, being the only one been reselected for two consecutive years among the emerging economies. At present, BOC has branches in 35 countries, as well as Hong Kong, Macau and Taiwan, also offered financial services in such countries as Oman, Peru, Ghana, Chile and Turkey etc. via its “China Counter”, and established agency and cooperation relationship with nearly 1,500 foreign banks of 179 countries and regions.
Re-disseminated by The Asian Banker