OREANDA-NEWS. March 05, 2013. Bank of China Middle East (Dubai) Limited opened for business in Dubai, which makes it the first business institution set up in the Middle East by Bank of China.

At the opening ceremony, Yue Yi, Executive Vice President of Bank of China stated that China and Middle East countries have a long history of exchange, and the well-known “Silk Road” was developed for this purpose. With strengthened economic and trade relations between China and the United Arab Emirates over recent years, the two countries have seen a broad prospect for cooperation in infrastructure construction, trade services and direct investment. BOC Middle East will leverage the group’s global network, serving as a bridge of more direct and convenient financial services for trading between China, the UAE, and other Middle Eastern and North African countries. Meanwhile, BOC Middle East will take the geographical advantages of Dubai, as the center of Asia, Europe and Africa, to provide all-round, quality financial services for traders and multinational enterprises in this region.

With the highest level “Class A Permit” business license granted by local financial regulators, BOC Middle East provides all-round financial services, including deposit, project and trade financing, investment agent, investing and financing consulting and arrangement, asset management, escrow arrangement, etc.

Founded in 1912, BOC is the only commercial bank that has been continuously operating for a century in China, as well as a commercial bank with the highest level of internationalization and diversity in the country. In November 2012, BOC was once again selected as a “Global Systemically Important Financial Institution”, the only one among the emerging economies. At present, BOC has branches in 36 countries as well as in Hong Kong, Macau and Taiwan. It also offers financial services in countries like Oman, Peru, Ghana, Turkey, Uganda, and Finland via “China Counter”, and has established agency and cooperation relationship with over 1,600 foreign banks in nearly 180 countries and regions.