Chinese bank to boost UAE presence

Dubai: His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Monday received Jiang Jianqing, Chairman of the Industrial and Commercial Bank of China.

They discussed global economic developments and the possibilities of successful investment cooperation between financial and banking institutions in Dubai and the Industrial and Commercial Bank of China, which has about 3,500 branches in China and 16 other countries.

Shaikh Mohammad welcomed the chairman of the bank, which opened a branch in Dubai International Financial Centre (DIFC), and instructed authorities to provide all facilities to allow the giant Chin-ese company to practice its activities and develop them through its branch at the DIFC.

The meeting was attended by Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Dubai Crown Prince, and other senior officials.

Jiang commended the economic growth in Dubai and the UAE and noted the big trust in the UAE's financial institutions and system among international companies.

He expressed his happiness at launching his company's activities and said he considered it as a first step towards enhancing the presence of his company.