JPMorgan to expand payments, corporate banking services in Abu Dhabi | Reuters
JPMorgan (JPM.N) said on Monday it is expanding its payments and corporate banking businesses in Abu Dhabi, the capital of the United Arab Emirates (UAE), after getting a nod from regulators.
The UAE is vying with Saudi Arabia to be the go-to destination for economic activity, with the region gradually moving away from its reliance on oil.
The Financial Services Regulatory Authority has granted in-principle approval to JPMorgan to upgrade its license to category one, the bank said.
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