Arab Bank Switzerland, the Geneva-headquartered Swiss private banking group, has launched ABS (Middle East) Limited in Dubai International Financial Centre (DIFC), deepening its long-term commitment to the region and to the UAE.
The launch marks the next step in the Arab Bank Switzerland's strategy to build a robust and scalable presence in the Middle East leveraging the ABS Group network by bringing the Bank closer to the entrepreneurs, family offices and high-net-worth individuals it has served across the region since the 1960s, a statement said.
Mohammad Abdulrahman Alhawi, Undersecretary, UAE Ministry of Investment, said: “Arab Bank Switzerland’s expansion into the UAE reflects the country's continued ability to attract established international financial institutions that see it as a platform for long-term regional growth. The launch of ABS (Middle East) Limited adds further weight to the UAE’s financial services ecosystem and reinforces our position as a trusted hub for wealth management, investment and cross-border business. It also reflects the confidence global institutions continue to place in the UAE’s regulatory environment, connectivity, deep pool of talent and expertise, and long-term economic vision.”
Welcoming Arab Bank Switzerland to DIFC, Arif Amiri, Chief Executive Officer of DIFC Authority, said: “We are pleased to welcome Arab Bank Switzerland to DIFC as it establishes its presence in Dubai to serve clients across the Middle East. The firm’s long-standing heritage in Swiss private banking, combined with its strong ties to the region, adds further depth to DIFC’s growing wealth and asset management ecosystem. With over 290 banks and financial institutions operating in the Centre, DIFC continues to attract leading global players seeking a stable, well-regulated platform to access regional and international growth opportunities. We look forward to supporting Arab Bank Switzerland’s expansion and its contribution to the continued development of the region’s financial services landscape.”
Wahbe Tamari, Chairman of the Boards of Arab Bank Switzerland and of ABS (Middle East) Limited, commented: "We see the UAE as a strategic hub for the future of the wealth management business of ABS Group. We are building a platform designed for long-term development, supported by strong governance, experienced leadership and the values that have defined Arab Bank Switzerland for decades. The calibre of the individuals joining the Board and leadership team reflects the importance we attach to this project and our confidence in the future of wealth management in the region."
To support the bank’s long-term ambitions in the Middle East, Samir Atitallah has been appointed Chief Executive Officer of ABS (Middle East) Limited. - TradeArabia News Service
