UBA Dubai targets corporates, financial institutions’ clients


The UBA Dubai has commenced operations, focusing on corporates and financial institutions’ clients, the bank announced yesterday.

In a report entitled: Five key facts about UBA’s Operations in Dubai, UBA Group said the Dubai Branch will engage new corporate and financial institution clients and refer them to other UBA Group subsidiaries and branches for on-boarding, lending, among other services.

The bank said it is taking the step because it has ‘advising and arranging’ licence in Dubai International Financial Centre (DIFC), Dubai, which means it does not extend credit or take deposit in Dubai.

We have an ‘advising and arranging’ licence in DIFC, Dubai, which means we do not extend credit or take deposit in Dubai. We do not run a local balance sheet in UBA Dubai, and hence do not open bank accounts in Dubai for any client, be it corporate or financial institution,” the bank stated.









Please enter your comment!
Please enter your name here

Share post:




More like this

Minimum wage review: My takeaway, by Babatunde Fashola

During my participation at the Covenant Nation’s The Platform...

Peter Obi Knocks Tinubu Over Claim That Nigerians Are Not the Only Ones Facing Poverty

The presidential candidate of the Labour Party in the...

Bolanle Austen-Peters’ “House of Ga’a” Arrives on Netflix July 26th | See First Looks

This July, get ready to be transported to 18th-century...

Farooq Oreagba, a billionaire who Unique Style Steals the Show at 2024 Ojude Oba Festival

Farooq Oreagba, a Nigerian man hailing from the Oreagba...