J&K Bank spreads wings, sets up office in Dubai

Tribune News Service

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Srinagar, October 1

With a view to bolster its non-resident business, particularly in the Gulf, J&K Bank is planning to establish its first representative office in Dubai (UAE).

A bank statement said it had begun the process of applying to the Reserve Bank of India (RBI) for permission. Commenting on the board decision, chairman and CEO Parvez Ahmed said, “The board consent is a clear expression of intent in this regard and we are already in the process of seeking approval from the regulatory authority. However, we envisage the setting up of a representative office in Dubai as a kind of baby step towards establishment of our foundational venture overseas.”