Business | Banking
Emirates NBD launches Jersey offshore deposits
Product targets high net-worth customers
- Staff Report
- Published: 00:00 February 9, 2010
Dubai: Emirates NBD, the largest banking group in the Middle East in terms of assets, announced Monday the launch of Jersey offshore deposits, an attractive and flexible multi-currency, fixed-deposit product, offering easy international access, potential tax efficiencies and total confidentiality.
The offering is targeted at affluent and high net-worth customers in the UAE, and currently offers very attractive promotional rates to provide customers with added value, the bank said in a statement yesterday.
"Meeting the needs of our clients here in the UAE and across the world remains our highest priority at Emirates NBD," said Suvo Sarkar, executive vice-president and general manager of retail banking.
‘Attractive returns'
"We are therefore extremely pleased to extend our deposit offerings through the introduction of Jersey offshore deposits, offering our customers attractive returns, peace of mind, flexibility and convenience."
Available in a range of international currencies, such as the US dollar, UK pound, euro and the dirham, the product is available in tenors ranging from one month to three years.
The minimum deposit is $25,000, £25,000, 25,000 euros or Dh100,000.
Stable jurisdiction
Jersey is recognised as one of the world's safest offshore jurisdictions in which to bank, invest or establish a trust.
An economically and politically stable jurisdiction, Jersey also adheres to the strictest regulatory practices and highest standards of financial governance.
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