DIFC welcomes licencing of Credit Suisse

The Dubai International Financial Centre Authority today welcomed the announcement by Credit Suisse that it had been awarded a licence by the Dubai Financial Services Authority to operate as a bank as of April 1st, 2005 at the DIFC.

Credit Suisse plans to launch its offices at the prestigious Gate Building by April of next year.

Dr. Omar Bin Sulaiman, Director General of DIFCA said,

“Credit Suisse is one of the most established, respected and credible names in global financial services. Its decision to choose the DIFC as the base for its regional operations is a ringing endorsement of all we are trying to achieve in creating an international financial hub.

Credit Suisse’s track record in the Middle East is extensive and I am sure its success will continue at the DIFC from where it plans to manage its operations.”

He continued,

“Credit Suisse has been a vocal advocate of DIFC since we announced its application to join and I would like to extend my thanks to the Credit Suisse team for its ongoing support of this major venture. The endorsement of DIFC by blue chip companies such as Credit Suisse has ensured our profile has been such that other institutions have been forced to recognise the impact we will have on the global financial services market.”