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First UAE bank to open China office

by ArabianBusiness.com staff writer on Sunday, 02 December 2007

Union National Bank, based in Abu Dhabi has become the first UAE bank to receive regulatory approval to set up a representative office in China.

The bank has been approved by the China Banking Regulatory Commission to establish an office in Shanghai.

China's largest bank, ICBC, is believed to have applied for licences at the DIFC and QFC.

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