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| • UAE surges through the Middle East storm |
That ought to represent a substantial opportunity for UAE banks, although they have been quite tentative. In 2012, Emirates NBD opened a representative office in Beijing and National Bank of Abu Dhabi opened one in Shanghai, but there has been no sign of any fully fledged branches to date. As the political and commercial capitals of China, these two cities are the obvious entry points for international banks, but Emirates NBD is relatively unusual in its choice – most Gulf banks opt for Shanghai, including National Bank of Kuwait and Qatar National Bank.
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