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Sberbank Has Submitted Documents For Registration Of An Office In Abu Dhabi

Sberbank Has Submitted Documents For Registration Of An Office In Abu Dhabi

Sberbank has submitted documents for registration of an office in Abu Dhabi (United Arab Emirates), Deputy Chairman of the Board of the Bank Anatoly Popov told reporters through the press service. According to him, Sberbank would like to open this office before the end of the year.

"The new office will support the investment business and implement projects of our clients in the direction of Islamic Finance, working with funds, banks, and companies in the Middle East," Popov explained.

In May, Bloomberg reported that Sberbank agreed to a joint direct investment Fund with the Emirati fund Mubadala. According to the Agency, the joint Fund will focus on investments in large and medium-sized Russian businesses.