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HSBC Bank Middle East Limited (HBME), an indirect wholly-owned subsidiary of HSBC Holdings plc, on Thursday confirmed that it has transferred its place of incorporation and head office from Jersey to the Dubai International Financial Centre (DIFC) effective June 30, 2016, as per an official statement.
As a result of the transfer, HBME operations at DIFC will be regulated by the Dubai Financial Services Authority (DFSA) for the entire Middle East region.
HSBC has first opened in Dubai in 1946, when it was called the British Bank of Iran and the Middle East, but its head office has been in Jersey since 1994.
The ... (read more)