Bank Of Palestine Targets Expats Through Dubai Branch

By Hans Esser, for 14 June, 2016

Bank of Palestine, the territory's largest financial institution, has set up its first international representative office, in Dubai, to target the Palestinian diaspora living in the Gulf region and beyond.

Through the Dubai International Financial Centre, a tax-free zone in Dubai, the bank intends to offer financial, investment and advisory services.

For his part, Hashim Shawa, Chairman and General Manager of Bank of Palestine, said: "Our new office in the UAE will promote our banking services and serve as an economic bridge that connects 250,000 Palestinian expats in the UAE to their homeland. At a later stage, we also aim to target Palestinians working in the wider Gulf area to leverage their expertise and capabilities."

The DIFC offers firms zero percent income tax guaranteed for 50 years, 100 percent foreign ownership, no exchange controls, and a legal system based on English common law.

Tags: Tax | Investment | Business | Interest | Palestine | Law | Banking | Dubai | Services | Expats | Africa | Middle East |


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