Japan’s leading bank, Bank of Tokyo-Mitsubishi UFJ, Ltd (BTMU), has received a licence from the Dubai Financial Services Authority (DFSA) to start operations as an authorised firm in the Dubai International Finance Centre (DIFC).

The bank’s new Dubai office will liaise with its existing BTMU Bahrain branch and four representative offices in the Middle East (Abu Dhabi, Istanbul, Cairo, Tehran), as well as the Japan desk of the National Bank of Abu Dhabi located in Dubai.

The new office will also access the network of 73 BTMU offices in Europe, Africa and Asia, areas which have deep financial ties with the Middle East, and will provide support and expertise for BTMU’s customers in the region.

Hideki Gohbara, general manager of BTMU Dubai office, said: “The opening of an office at the DIFC will allow us to expand on new opportunities in this dynamic market as well as meet the growing needs of our existing customers.”