Bank of China establishes Middle East subsidiary

Bank of China Ltd opens office in Dubai.

The subsidiary, Bank of China Middle East Dubai Ltd or BOC Middle East, will provide all-round financial services, including deposit, project and trade finance, investing and financing consulting and arrangement, asset management and escrow arrangement services, among others. It received a Class A Permit business license.

BOC Middle East is expected to build a more direct and convenient bridge of financial services for economic and trade activities among China, the United Arab Emirates and other Middle Eastern and North African countries.

BOC Middle East will take advantage of the geographical advantages of the position of Dubai, an important banking center for Asia, Europe and Africa, to provide all-round financial services for multinational firms and other customers in the region.