Dubai, Asharq Al-Awsat – Barclays Bank PLC, announced the launch of its retail banking services in the United Arab Emirates (UAE).
Barclays has operated in the UAE for over thirty years and is now expanding in the Emirates as part of its strategy to increase its exposure to emerging markets and the reach of its retail banking service. The bank launched its UAE mortgage business last year, breaking the mould with its Mini-driving sales team.
Ahmed Khizer Khan, CEO of Global Retail and Commercial Banking Emerging Markets commented: “Two weeks after opening our retail bank in India, the launch of retail banking in the UAE is the latest step as Barclays delivers on its stated aim of increasing the proportion of profit generated from outside the UK. Increasing exposure in attractive emerging markets is central to that strategy and Barclays sees the UAE as high potential. Based on the extraordinary economic development this country is witnessing, I can only describe the UAE as the financial hub of the region, and where Barclays is now embarking on its own journey.”
The bank is expanding its operations in Dubai and Abu Dhabi with two offices currently operating and a service centre opening in June. By the end of the year, Barclays network will include two branches, three service centres and an ATM network. The use of technology and an innovative mobile sales force will also make it easier for customers: Barclays will bring banking to them.