Citigroup plans to grow offshore booking center in UAE: executive | Reuters:
Citigroup (C.N) plans to boost the United Arab Emirates’ role as an offshore booking center and is working towards a full banking license in Saudi Arabia, helping to propel its regional growth, a senior executive told Reuters.
Growth in the Middle East and Africa region is expected to be above the market average of around four percent in 2018 and 2019, driven by both countries, Atiq Rehman, Citi’s Chief Executive of Middle East and Africa, said in an interview.
“We are focused on what we can do within the UAE and very focused on what we can do from the UAE,” he said. “We want to grow our business here and make it into a regional offshore booking center for a lot of our loans.”
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