Quotes: US 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 rapidly 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
 Oct 30 2014 - UAE- Hawaii lava flow reaches home threatens townKhaleej Times
(MENAFN - Khaleej Times) Red-hot lava from a slow-erupting volcano has reached a home on Hawaiis Big Island and is threatening an entire town emergency officials said Tuesday. The lava flow from ...

 Oct 30 2014 - UAE- Slow-moving lava creeps closer to Hawaii homesKhaleej Times
(MENAFN - Khaleej Times) A branch of the molten stream was less than 100 yards (90 meters) from a two-story house.This photo provided by the US Geological Survey shows the lava flow from Kilauea ...

 Oct 30 2014 - UAE- Mudslide buries Sri Lanka tea labor quartersKhaleej Times
(MENAFN - Khaleej Times) The military has mobilized troops to help in the rescue operations. Colombo Sri Lanka: A mudslide in central Sri Lanka has buried several rows of workers’ houses at a ...

 Oct 30 2014 - UAE- 10 people killed 200 missing in Sri Lanka after mudslidesKhaleej Times
(MENAFN - Khaleej Times) A local hospital source said that two men and a woman rescued from the mud had been brought in for treatment. Colombo: Around 200 people were reported missing and 10 ...

 Oct 30 2014 - UAE- Heavy rains continue in Telangana two deadKhaleej Times
(MENAFN - Khaleej Times) Two women both sisters were washed in the swirling waters of a rivulet near Madgula village in Guntur district of Andhra Pradesh as heavy rains caused by Cyclone Nilofar ...

 Oct 30 2014 - UAE- Magnitude 6.1 earthquake hits near Samoa: USGSKhaleej Times
(MENAFN - Khaleej Times) A police spokeswoman in the capital Apia told Reuters by telephone that the quake had not been felt in the city and that she was unaware of any damage. Sydney: A 6.1 ...

 Oct 30 2014 - Ottawa shooting was madmans last desperate act says motherKhaleej Times
(MENAFN - Khaleej Times) Susan Bibeau said her estranged son had wanted to travel to Saudi Arabia to study Islam and the Quran not Syria to join militant fighters. Michael Zehaf-Bibeau killed by ...

 Oct 30 2014 - UAE- Kidnapped women used by Boko Haram on front line: Rights groupKhaleej Times
(MENAFN - Khaleej Times) Suspected militant fighters kidnapped about 30 children including girls as young as 11 in Borno state at the weekend. Lagos: Boko Haram has used kidnapped young women and ...

 Oct 30 2014 - Ottawa gunman made video before attack: PoliceKhaleej Times
(MENAFN - Khaleej Times) Michael Zehaf-Bibeau who was shot dead by police in the parliament in Ottawa after killing a soldier Wednesday was mentally ill and wanted to die his mother wrote in a ...

 Oct 30 2014 - UAE- Nepal bus crash kills 14 injures dozens: PoliceKhaleej Times
(MENAFN - Khaleej Times) Among those killed Friday were two people including a woman who was part of a group heading to the Langtang trekking area. Katmandu: A Nepal bus packed with people ...

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help