BNP Paribas Group, one of the world’s largest international banks, has announced the launch of its new branch at the Abu Dhabi Global Market (ADGM), the international financial centre in the UAE capital.

This development was announced during an event held at the ADGM Authorities Building on Al Maryah Island in Abu Dhabi in the presence of Sheikh Hamed bin Zayed Al Nahyan, Chairman of Abu Dhabi Crown Prince’s Court, and Edouard Philippe, the Prime Minister of France.

The event, hosted jointly by Ahmed Al Sayegh, the chairman of ADGM and Jean Lemierre, the chairman of BNP Paribas Group, was attended by more than 200 industry leaders and corporate clients.

BNP Paribas received the Financial Services licence from the Financial Services Regulatory Authority (FSRA) of ADGM to conduct regulated activities and provide services to its clients.

Ahmed Al Sayegh, the chairman of ADGM, said: "The new BNP Paribas branch signals a significant step in the development of ADGM as an international financial centre. We look forward to growing together with BNP Paribas and catering to the dynamic needs of the industry in this region."
 
Lemierre said the inauguration of the new BNP Paribas branch reflects the group’s commitment to financing the development of Abu Dhabi and to accompany its investments on an international level, notably in Europe.

"It will also enable us to further develop our relationships with our corporate and institutional clients in the region," he noted.

Located in the UAE capital, ADGM augments Abu Dhabi’s position as a global centre for business and finance and serves as a strategic link between the growing economies of the Middle East, Africa and South Asia and the rest of the world.-TradeArabia News Service