'Valuable addition' to DIFC

11/11/2009 - Dubai Investment News
'Valuable addition' to DIFC

Posted by Bob Brunskill

Those with a commercial property in Dubai may already know of a new bank which has joined the Dubai International Financial Centre (DIFC).

Akbank, said to be Turkey's "most valuable" bank, is the first Turkish financial institution to establish itself within the DIFC.

The event took place today (November 11th) when the company received its license function in the emirate.

Abdulla Mohammed Al Awar, chief executive officer of the DIFC Authority, said: "DIFC is the ideal gateway for Akbank to launch its operations in the region, particularly as Turkish- Gulf Cooperation Council business relations continues to grow positively."

He added that the move proved that both countries have been resilient during the economic crisis and commented that the potential they have is huge.

Mr Al Awar said that the addition would serve to bring the markets of Turkey and Dubai closer together and that he believes the DIFC and Akbank can look forward to a "fruitful relationship".

This year Akbank was selected by Euromoney magazine for the title of Best Bank in Turkey.