Saxo Bank, the online trading and investment specialist, will establish a regional office in the Dubai International Financial Centre (DIFC).
The new office is designed to further strengthen the bank’s presence in the region and marks the first time that a Danish bank has established its presence in the Gulf Corporation Council region.
Copenhagen-based online specialist, Saxo Bank has received regulatory approval to operate a regional office in the Dubai International Financial Centre (DIFC) under the supervision of the DFSA.
“We have been increasingly impressed by the entrepreneurial spirit and the will to succeed in the Middle East,” says Lars Seier Christensen, Co-CEO and co-founder. “If you can build a ski resort in the middle of the desert, you can do anything. Dubai remains one of the most important global financial centres and the GCC region will have an important role to play when this current financial crisis is over. Depending on market conditions we intend to use our new office as the first step towards establishing similar presence in other GCC countries.”
“Saxo Bank is a pioneer in its industry and the first Danish bank to establish a presence here,” says H.E., Dr. Omar Bin Sulaiman, governor of the DIFC. “As a globally recognised financial institution, providing state-of-the-art online investment trading services, we are delighted to welcome them to DIFC. There is a huge demand for the services they provide investors and the Middle East will benefit from their presence here.”
“Even though most of our business is conducted online, Saxo Bank takes great pride in the high level of personal service and support we offer our clients and partners on the ground,” says Shailendra Robin Patel, CEO, Saxo Bank (Dubai) Limited. “Our DIFC office will enable us to bring our products and services closer to our clients and partners in support of our objectives to continue growing our business throughout the region.”
L.D.