The Commercial Bank of Ceylon will enhance its international footprint with the opening of a Representative Office in the Dubai International Financial Centre (DIFC), a global financial hub in the Middle East, Africa, and South Asia (MEASA) region.
The Bank has already received a Dubai Financial Services Authority (DFSA) licence to operate a Representative Office in the DIFC, and plans to commence operations shortly.
The Representative Office will serve as a point of contact for the Bank’s growing client base in the region, including stakeholders in Sri Lanka, and in Bangladesh and the Maldives, who have operations in the United Arab Emirates (UAE), a Bank spokesman said.
Commercial Bank already has 20 outlets in Bangladesh, a Microfinance company in Myanmar, and a full-fledged Tier I Bank in the Maldives.
Commercial Bank Chairman Sharhan Muhseen said, “Commercial Bank will again lead the way by becoming the first Sri Lankan bank to establish a presence in the Dubai International Financial Centre. To achieve our strategic vision and the growth we are inherently capable of, we have to expand our global footprint, and this will also enable the Bank to support the objectives and ambitions of its customers. Opening a Representative Office in DIFC is, therefore, an important stepping stone to expand the international footprint of Commercial Bank.”
