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Sun 1 Oct 2006 12:00 AM

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HSBC Bags DFSA License

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HSBC Bank Middle East Limited has been granted a license from the Dubai Financial Services Authority (DFSA) to provide institutional financial services from the Dubai International Financial Centre (DIFC).

These activities include a significant portion of the bank’s corporate, investment banking, markets, private banking, and Islamic finance activities.

Niall Booker, deputy chairman and chief executive officer of HSBC Bank Middle East Limited, said: “Following the announcement made by our group chairman, Mr. Stephen Green, last year about the Bank’s strong desire to establish a significant presence in the DIFC, I am pleased to confirm that our request for authorisation has been approved by the DFSA, and that we will relocate a number of staff into the DIFC during 2006.

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