HSBC has been named Best Sub-Custodian Bank 2003 in the Middle East region by Global Finance magazine.
In selecting HSBC, the magazine said: "HSBC is the only international bank providing custody services in Saudi Arabia. It has been serving local investors in the kingdom since the market opened in 1984. In Bahrain and Lebanon, HSBC has been providing custody services since 1996, when those markets opened to non-resident investors. HSBC also has strong relationships with major market participants and regulators in Jordan. The bank serves some of the largest global custodians in Oman, Qatar and the United Arab Emirates."
HSBC is the largest and most widely represented international bank in the Middle East. It has 29 branches throughout the United Arab Emirates (UAE), Oman, Bahrain, Qatar, Jordan, Lebanon, and the Palestinian Autonomous Area, including an offshore banking unit in Bahrain. This regional coverage is strengthened by another member of the HSBC Group HSBC Bank Egypt, and by its associated companies, the Saudi British Bank and British Arab Commercial Bank. In addition to its Middle Eastern network, the Bank has a representative office in Tehran, Iran. — (menareport.com)
© 2004 Mena Report (www.menareport.com )