ADCB launches Offshore Banking through its Jersey Branch

22 November 2011

Abu Dhabi, 22 November 2011: Abu Dhabi Commercial Bank ("ADCB") today announced the launch of ADCB Offshore Banking through its Jersey branch. The new proposition will cater to ADCB's high net worth Excellency clients and Privilege Club members.

ADCB Offshore Banking will provide our UAE National and expatriate customers access to a wide range of products and services, in addition to the convenience of banking with ADCB. With ADCB Offshore Banking customers can operate accounts in multiple currencies from anywhere in the world, irrespective of their country of residence, reducing the need to hold accounts in different countries. Customers will be able to access their offshore accounts through our award winning personal internet banking facility, where all accounts will be viewed under 'One View' hence allowing customers to seamlessly transfer funds between offshore and onshore accounts. Customers can also access their funds internationally using their foreign currency debit cards.

The added stability and security offered by a well established offshore financial center like Jersey offers our customers peace of mind that their savings are held in a secure and highly regulated centre which is ideal for inheritance and estate planning.

Customers can start their offshore banking account with ADCB with an initial balance of USD 25,000 and can select from a range of accounts such as, current, savings and fixed deposits in GBP, USD, EUR or any major currency.

Arup Mukhopadhyay, Head of Consumer Banking, said:

"The launch of Offshore Banking through our Jersey Branch is a testament to ADCB's continued commitment to the UAE banking sector and is expected to facilitate further positive growth in the industry. With Offshore Banking our customers will get local access to international wealth solutions from a secure and highly regulated jurisdiction. The launch of ADCB Offshore Banking though our Jersey branch is another stride towards helping our customers to achieve their financial ambitions."

"The biggest advantage for customers is the accessibility of ADCB Offshore Banking. Customers can access funds from any of ADCB's local branches, via our ADCB personal internet banking facility and phone banking service. Funds transfers in and out of their offshore accounts can be made online 24 hours a day, seven days a week . Furthermore, our customers can now access their funds internationally by using their foreign currency debit cards, and will also earn TouchPoints on their offshore account balances, deposits and debit card transactions." Arup concluded.