Akbank, a Turkey-based bank, has received license to operate from the Dubai International Financial Centre (DIFC). The Dubai office is named Akbank (Dubai) and is the first Turkish bank to set up at the DIFC.
Akbank aims to become one of the preferred consultants in investment banking and corporate finance in the region by leveraging the expertise and knowledge of its parent company and its local staff in the Dubai office. It will be headed by Cem Atac, who has experience in the banking sector throughout the region.
Abdulla Mohammed Al Awar, CEO of DIFC Authority, said: “DIFC is the ideal gateway for Akbank to launch its operations in the region, particularly as Turkish-GCC business relations continues to grow positively. The move is proof-positive that Dubai and Turkey have remained largely resilient during the ongoing global economic crisis, and re-affirms the vast potential in region.”
Suzan Sabanci Dinçer, chairman and executive board member at Akbank, said: “We are pleased to launch our operations in Dubai which has proven to be a highly dynamic city replete with opportunity. Its geographical positioning makes it vital in international business, hence our strategic decision to open offices in DIFC, which is the ideal hub for the growth opportunities we seek.”
Mr Atac said: “Akbank Dubai aims to act as a catalyst in the development of enhanced economic cooperation and dialogue between Turkey and the GCC, serving the needs of its clients both in the region and in Turkey, by offering the highest professional standards.”
