By Elsa Baxter
Minimum of $25,000 or AED100,000 can be saved in offshore from one month to 3 years.
Emirates NBD, the largest banking group in the Middle East in terms of assets, will launch an offshore banking facility in Jersey, it said on Monday.
The facility, called Jersey Offshore Deposits, is aimed at “affluent and high net worth customers in the UAE,” the lender said in a statement.
The multi-currency fixed-deposit product offers Emirates NBD customers “easy international access, potential tax efficiencies and total confidentiality,” the bank said.
The product is available in a range of international currencies, including the US dollar, UK pound, Euro and the UAE dirham, from one month to three years.
The minimum deposit is $25,000, GBP25,000, Euro 25,000 or AED100,000.
Jersey is recognised as one of the world's safest offshore jurisdictions in which to bank.
May I suggest they get their service standards in order in Dubai before expanding. Customer Service are 2 words that do not exist in their dictionary.
Emirates NBD launches Jersey deposits with the end note "Jersey is recognised as one of the world's safest offshore jurisdictions in which to bank". Is that really relevant? What really matters or is relevant is the Quality of the Organisation rather than the place. You can have a Crook operating in a a very safe place. Does that mean that you are safe? I don't know what Jersey can offer which UAE can not as long as the organisation is good!!!!!!!!!!!