Samba chooses DIFC as base for global operations

By DG Staff

DUBAI 13 August 2020: Dubai International Financial Centre (DIFC), is welcoming leading Saudi Arabian Bank, Samba Financial Group to its client list.

It will become the first Saudi Arabian bank to establish in DIFC.

Arif Amiri, Chief Executive Officer of DIFC Authority said, “We would like to thank Samba Financial Group for being the first bank from Saudi Arabia to establish a presence in the DIFC to service UAE and the region. Being part of the region’s largest and comprehensive financial ecosystem of more than 2,500 companies, including 820 financial firms will be a catalyst for their growth.

“Samba Financial Group is known in Saudi Arabia for transforming the financial services sector which aligns perfectly to DIFC’s vision to drive the future of finance. We are looking forward to helping them access the fast-growing markets across the region.”

On receiving the licence to operate in DIFC, Rania Nashar, Chief Executive Officer of Samba Financial Group said, “DIFC’s legal and regulatory framework and infrastructure provides us with the ideal platform to grow, not just in the UAE, but across the region. Our presence reinforces Samba’s commitment to the UAE, is part of the Group’s strategic growth plans and will also allow us to enhance our client coverage in the region.

“I would like to thank everyone who was involved in the licencing process and looking forward to building a close and long-lasting relationship with DIFC.”

DIFC has attracted the world’s leading financial institutions since it opened in 2004. The centre continues to attract new clients and recently announced over 300 new companies had joined during the first six months of 2020.

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Dubai Gazette