Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

UAB-Turkey firms deal  Join our daily free Newsletter

MENAFN - Khaleej Times - 07/12/2013
No. of Ratings : 0
Add to Mixx!


(MENAFN - Khaleej Times) United Arab Bank, or UAB, the fastest-growing bank in the Middle East, has set up a dedicated desk to support Turkish businesses in the UAE, in a quest to become the preferred local bank for the Turkish business community in the UAE. The mutual relationship will also support UAE businesses when trading in the Turkish market.

UAB continuously strives to offer customers clear, compelling reasons to choose UAB as their bank of choice. Through the strategic alliance formed between Alternatifbank in Turkey and Commercial Bank of Qatar, a major stakeholder in both UAB and Alternatifbank, the bank will be able to serve the needs of UAE clients in Turkey in areas including investment banking, corporate banking, trade finance and mortgage financing. Furthermore, UAB will serve the banking needs of Turkish customers and companies doing business in the UAE.

Through this alliance, UAB aims to tap into the ever-growing Turkish commercial banking market in the UAE and a potential retail customer base of approximately 20,000 Turkish expats, representing mainly white collar professionals benefitting from a higher income level.

Howard Kitson, executive vice-president of Wholesale and International Banking at UAB, said: "Our desire is to become the preferred corporate banking for companies who wish to do business with Turkey. We are happy to open a representative desk as Turkey is a rapidl growing economy, representing tremendous opportunities for us. The UAE is a central country within the region and relations are growing between the two countries. This coupled with the fact that the UAE is a window to reach the Asian, African and Arab markets, while Turkey is a window to reach the eastern and western countries in Europe, means that UAB and Alternatifbank will benefit from the significant business arising from the Turkey-UAE trade corridor."


The president of the Turkish Business Council in Dubai and the Northern Emirates, Hakan Bahceci, said: "We are extremely pleased to learn about UAB's initiative to form a desk dedicated to Turkish business. The alliance with Alternatifbank in Turkey shows UAB's commitment to supporting businesses that are active in trade and investment between Turkey and the UAE. The alliance and the dedicated desk provide UAB the knowledge and capability to support Turkish businesses in the UAE as well as the local and international companies based in the UAE and wishing to do business in Turkey."

Total trade volume between the two countries is currently estimated to be 11.8 billion. A sustained and rapid growth over recent years has shown Turkish imports from the UAE increasing by 118 per cent in the last two years and similarly Turkish exports to the UAE have grown by 120 per cent in the same period, demonstrating the positive partnerships between both nations.

 


Khaleej Times




  MENA News Headlines
 Dec 5 2016 - Robo-advice market growing profoundly in the UK: Ken ResearchMENAFN Press
(MENAFN Press) • The UK still positions 6th Worldwide with regards to average wealth per adult. • The market leader in terms of assets under management (AUM) is St. Jamess Place, followed by Coutts ...

 Dec 5 2016 - Dine Exhibition and Conference 2016MENAFN Press
(MENAFN Press) Dine Exhibition & Conference – powered by Zomato, is the region’s only dedicated business event for business owners and suppliers for restaurants and cafés on 4th-5th March 2017 at ...

 Dec 5 2016 - Openwave Mobility To Share Global Strategies for How Mobile Operators Have Successfully Added Subscribers And Monetized OTT ServicesMENAFN Press
(MENAFN Press) Openwave Mobility CEO John Giere will present at the sixth annual Zain Technology Conference on December 7 at 15.15hrs in the Le Royal Hotel Amman, Jordan. His session is ...

 Dec 5 2016 - Special Holiday Promotion of California Extra Virgin Olive by Gourmet LivingMENAFN Press
(MENAFN Press) Special Holiday Promotion of California Extra Virgin Olive by Gourmet Living Gourmet Living Offers its California Extra Virgin Olive Oil at a Special Christmas Promotional ...

 Dec 5 2016 - Special Holiday Promotion on Barrel-Aged Balsamic Vinegar of ModenaMENAFN Press
(MENAFN Press) Special Holiday Promotion on Barrel-Aged Balsamic Vinegar of Modena Gourmet Living's Premium Balsamic Vinegar of Modena Christmas Promotion Make this Christmas special ...

 Dec 5 2016 - MYANMAR RENEWABLE ENERGY NEWS: Solar Energy and Hydro-Power Exhibition in Yangon, Expo by: MiTA, 24-26 Feb 2017MENAFN Press
(MENAFN Press) MYANMAR RENEWABLE ENERGY NEWS: Solar Energy and Hydro-Power Exhibition in Yangon, Expo by: MiTA, 24-26 Feb 2017 MYANMAR SOLAR & HYDRO ENERGY EXPO: 24-26 Feb 2017, Annual Event in ...

 Dec 5 2016 - Libya: Humanitarian and diplomatic mission to Tripoli and MisrataMENAFN Press
(MENAFN Press) Libya: Humanitarian and diplomatic mission to Tripoli and Misrata This is the sixth shipment of medicines made to Libya by the Italian Cooperation service since the beginning of the ...

 Dec 5 2016 - Sudan: Let's work together to combat illegal migration, Minister Gentiloni told Minister GhandourMENAFN Press
(MENAFN Press) Sudan: Let's work together to combat illegal migration, Minister Gentiloni told Minister Ghandour The two ministers also discussed the crises in Libya, Syria and Yemen, in addition ...

 Dec 5 2016 - Record International Humanitarian Appeal Requires $22.2 Billion for 2017MENAFN Press
(MENAFN Press) Record International Humanitarian Appeal Requires $22.2 Billion for 2017 Response plans and appeals in 33 countries aim to reach 93 million people in need GENEVA, Switzerland, ...

 Dec 5 2016 - ScanSnap CloudPC-less scanning directly to your cloudMENAFN Press
(MENAFN Press) Dubai, November 30, 2016 With the introduction of the ScanSnap Cloud, Fujitsu subsidiary PFU (EMEA) Limited is launching a new free service that enables ScanSnap iX100 and ScanSnap ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help