And the news has been heralded as further evidence of the Island’s standing as a jurisdiction of excellence and probity in the Gulf region.
Abu Dhabi Commercial Bank will provide its offshore banking services to high net worth individuals and expatriates living in the United Arab Emirates.
It said Jersey would offer its customers peace of mind that their savings are being held in a secure and highly regulated centre.
ADCB, which is more than half owned by the Abu Dhabi government, has been given a licence to operate as a managed bank and AIB Jersey will carry out operations on its behalf.
