Akbank (Dubai) Ltd., Dubai Arm of Turkey's largest commercial bank, commences operations in DIFCPress Release 08 Dec 2009 08:46 am
Akbank, Turkey’s most valuable bank and company in terms of market capitalisation, announced today that it has commenced the operations of its Dubai office at the Dubai International Financial Centre (DIFC).
Akbank (Dubai) Ltd. is the first Turkish Bank to set up at DIFC. It aims to become one of the preferred consultants in Investment Banking & 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 Ataç, who has vast experience in the banking sector throughout the region.
A lunch was organised to commemorate the opening of Akbank’s Dubai office. The event was attended by Akbank representatives including Suzan Sabancı Dinçer, Chairman and Executive Board Member; Hayri Çulhacı, Executive Board Member; Ziya Akkurt, CEO and Board Member and Cem Ataç, Senior Executive Officer, Akbank (Dubai) Ltd.. Also present at the event was a high-profile delegation of Turkish businessmen and a number of prominent members of the business and social communities of Dubai and Abu Dhabi.
H.E. Ahmed Humaid Al Tayer, Governor of the Dubai International Financial Centre commented, “We are very happy to welcome Akbank, Turkey’s largest bankin terms of market capitalisation to the community of financial institutions in DIFC. Akbank’s decision to establish a presence in DIFC to target the regional market supports the process of deepening the already robust economic ties between the UAE and Turkey. Akbank’s move also reflects the continued confidence of the global financial industry in Dubai and DIFC and the financial services opportunities that the Middle East and GCC regions offer. By working together with Akbank, we hope to tap growing complementarities and partnership opportunities between the financial sectors of these dynamic markets.”
Abdulla Mohammed Al Awar, CEO, DIFC Authority thanked Suzan Sabancı Dinçer in acknowledgement of Akbank’s role in enhancing the partnership between Turkey and countries in the GCC region. “DIFC is the ideal platform for Akbank to launch its operations in the region, particularly as Turkish-GCC business relations continue to grow positively. We are delighted to welcome Akbank to the DIFC family and look forward to a fruitful relationship that will bring these two high-potential markets closer together. The establishment of Akbank’s office in DIFC demonstrates the economic strengths of both Dubai and Turkey and re-affirms the vast potential of the region’s financial industry,” said Abdulla Mohammed Al Awar.
Suzan Sabancı Dinçer who made the opening speech at the event commented, “Turkey’s relations with its Middle Eastern neighbours have been on the rise, with the region becoming Turkey’s second most important trade partner after Europe. Today, more than ever, Turkey and GCC countries have ever increasingly common interests.”
Dinçer also added “We believe that, it is up to us, business leaders, to make this strong relationship even stronger. As the leading Turkish Bank, our international strategy encompasses reaching towards both the West and the East in line with Turkey’s national endeavour as the integral bridge between Eastern and Western parts of the world. As such, I am very happy to announce that, with the launch of our operations in Dubai, which will be based in the DIFC, our commitment to fostering business ties between Turkey and the Middle East will be stronger than ever.”