ABN AMRO has a long-standing commitment to the Middle East with a presence in the United Arab Emirates (UAE) dating back to 1973. Currently ABN AMRO operates in more than 60 countries worldwide employing over 96,000 staff.
ABN AMRO becomes the 13th firm to join the DIFX, which has attracted a range of prominent Members based both internationally and in the region. It joins as an Individual Clearing Member.
Jeroen Drost, Chief Executive Officer, Asia, at ABN AMRO commented: "Dubai continues to develop as a world financial centre for our business in the region where we intend to significantly build our capabilities in order to foster stronger client relationships.
“We view the region as a key to the continued growth of our Middle East capital markets franchise and our membership of the DIFX will strengthen this position, where the UAE will help fulfill our regional business potential."
Nasser Alshaali, Chief Operations Officer of the DIFX, commented: "The arrival of ABN AMRO, a leading international investment bank, at the DIFX is further evidence that the world's most prominent financial institutions regard the exchange as a key entry point to business opportunities in the Middle East and the rest of the DIFX region.
“The DIFX expects to list a significant number of initial public offerings of shares over the course of 2006, as well as other listings including bonds and Islamic products.”
