BOC opens first subsidiary in Middle East
Updated: 2012-12-27 10:17
Bank of China Middle East (Dubai) Co Ltd is BOC's first entity to become eligible to offer financial services in the Middle East. BOC previously had representative offices in Dubai and Bahrain.
According to BOC's statement, the new subsidiary has the highest level of permission to offer financial services in the Middle East, which means it will be able to provide all-around financial services, including deposit, project and trade financing, asset management and financial consulting.
BOC said it hopes the new branch will facilitate business and trade between China, the Middle East and north African countries.