Bank of Singapore opens Dubai International Financial Centre branch
“This is an important milestone for Bank of Singapore,” bank CEO Bahren Shaari said in the release. “The Middle East, specifically the UAE, has always been an integral part of our business. The setting up of this branch in DIFC further strengthens our franchise and commitment to serve the burgeoning population of ultra-high and high-net worth individuals in this region.”
Attending the opening ceremony were Shaari; DIFC Governor Essa Kazim; Samuel Tsien, group CEO of OCBC Bank, the Bank of Singapore’s parent company; Ching Wei Hong, chief operating officer of OCBC Bank and chairman of Bank of Singapore; and representatives from 250 of the bank’s clients.
“This is an exciting time for the wealth management industry in Middle East,” Kirit Chauhan, Bank of Singapore’s market head for Middle East, sub-continent and Africa, said in the release. “There is clearly potential for this market to develop and flourish. Having a branch in DIFC, the leading financial hub in the Middle East, Africa and South Asia, offers Bank of Singapore an ideal platform to tap on this potential and expand our business further.”