(MENAFN - Arab Times) National Bank of Kuwait (NBK) today (Monday, 24March, 2014) opened its new Head Office in the United Arab Emirates in Dubai under the patronage of the Central Bank of the United Arab Emirates. The ribbon cutting ceremony was attended by the Chairman of the UAE Banking Federation Abdul Aziz Al Ghurair, the Chief Manager, Banking Supervision Department at the Central Bank of the UAE Habib Kazim, NBK Group CEO Isam Al Sager and NBK officials. "The opening of the new UAE Head Office in Dubai comes in line with NBK strategy to strengthen grow its position in the regional markets, especially the UAE and other GCC markets that offer growth opportunities," said Al Sager. "The UAE enjoys positive economic prospects and we are glad to reinforce our presence in the UAE market.
Tareq Al Mudhaf, NBK UAE General Manager, said that "NBK has been present in the UAE market since 2008 and, last year, it opened a new branch in Abu Dhabi, the second in the UAE. The opening of this new Head Office reflects NBK's commitment to provide the best services and products to its growing customer base in the UAE." NBK's new UAE Head Office is located in Latifa Tower on Skeikh Zayed road, Dubai. NBK provides its customers in the UAE with complete banking solutions including Murabaha deposits, corporate FX hedging solutions and mortgage services
NBK has the widest banking presence with more than 170 branches worldwide. NBK's international presence spans many of the world's leading financial centers including London, Paris, Geneva, New York and Singapore, as well as China (Shanghai). Meanwhile, regional coverage extends to Lebanon, Jordan, Iraq, Egypt, Bahrain, Qatar, Saudi Arabia, the UAE, and Turkey. NBK continues to enjoy collectively the highest ratings from the three international rating agencies Moody's, Fitch Ratings and Standard and Poor's. The Bank's ratings are supported by its high capitalization, prudent lending policies, and its disciplined approach to risk management, in addition to its highly recognized and very stable management team. NBK was also named among Global Finance's list of the 50 safest banks in the world for the eighth consecutive time