Barclays, the banking giant at UK high street, has started its retail-banking services in UAE, with a focus on modernizing the retail banking process in the region.
Barclays, the banking giant at UK high street, has started its retail-banking services in UAE, with a focus on modernizing the retail banking process in the region by providing customers superior service, choice and power on their finances, as per the news published in Banking Business.
Ahmed Khizer Khan, global retail & commercial-banking emerging markets' CEO said, "Increasing exposure in attractive emerging markets is central to that strategy and Barclays sees the UAE as high potential. Based on the extraordinary economic development this country is witnessing, I can only describe the UAE as the financial hub of the region, and where Barclays is now embarking on its own journey", in news published on Banking Business.
The increasing economic affluence combined with exemplary lifestyles & robust infrastructure is attracting overseas players to UAE. This has also lead to constructing a platform for significant growth in the retail-banking field.
According to bank, the customers will get the services from bank at their doorstep with the help of mobile sales force launched by bank and there would not be any need of their visiting the bank. Thus, the bank is all set to redefine the parameters of customer service touching the heights of customer convenience.
Barclays is extending its operations to Abu Dhabi and Dubai with two of its offices at present operating and a service center scheduled to open in June 2007. By the year-end 2007, Barclays' system will comprise three service centers, two branches, and a network of ATMs.
Barclays aim to erect on the achievement of its mortgage products it commenced last year. In only 11 months, the bank has acquired 20 per cent share in the UAE market.
As per research analyst at RNCOS, "United Arab Emirates possesses increasing community of adept expatriates and an educated local population who are interested in upcoming technology. Multinational banks in the region have also established pathway for the implementation of international retail banking practices and innovations."
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