Dubai – Mubasher: Bank of Singapore has been granted a Category 4 licence to open a branch in the Dubai International Financial Centre (DIFC), according to a statement.
The bank will offer a comprehensive range of customised private banking solutions.
The official opening of the branch is scheduled to take place in the first quarter of 2017.
The branch opening comes in line with the expectation that the private wealth of Middle East and Africa will rise at a compounded annual rate of 8.2%, to reach a record high $11.8 trillion by 2020.
