EEMEA round up: Qatar: ICBC gains QFC licence

China’s ICBC, the world’s biggest bank by market capitalization, has been granted a licence to operate in the Qatar Financial Centre. This is ICBC’s first outlet in the Gulf, although in September 2007 the bank’s president indicated that a branch was planned for Dubai. Activities at the Qatar branch will include wholesale and investment banking, as well as asset management, consulting and trust services.

China’s ICBC, the world’s biggest bank by market capitalization, has been granted a licence to operate in the Qatar Financial Centre. This is ICBC’s first outlet in the Gulf, although in September 2007 the bank’s president indicated that a branch was planned for Dubai. Activities at the Qatar branch will include wholesale and investment banking, as well as asset management, consulting and trust services.

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