26 December 2012

Bank of China Opens Subsidiary in Dubai, UAE

26 December 2012 - Bank of China has opened a wholly owned subsidiary in Dubai, United Arab Emirates, which is the first business institution established by the bank in the Middle East. The subsidiary has the highest level of local financial regulators business licenses to offer financial services like project finance, trade finance, investment and financial consulting etc. 

Bank of China is committed to build a more direct and convenient financial services bridge between China and the United Arab Emirates as well as other countries in the Middle East and North Africa. 

Established in 1912, BOC is the only commercial bank in China continuously operating for a century, as well as the most internationalized and diversified commercial bank in China. In November 2012, BOC again edged itself into the rank of the Global Systemically Important Financial Institutions, making it the only one in emerging economies that has been selected for two consecutive years. Currently, overseas institutions of BOC cover Hong Kong, Macau, Taiwan and other 35 countries and regions and provide financial services to countries such as Oman, Peru, Ghana, Chile and Turkey through “China Counter” model, and have established cooperation and agency relationships with nearly 1,500 foreign banks from 179 countries and regions. 

Source: Bank of China