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ABN Amro joins DIFX

The Dubai International Financial Exchange (DIFX) has announced that Dutch banking giant ABN Amro has become its latest new member.

The move will enable ABN to trade securities on the exchange, which is located in a strategically important place for Middle Eastern investment.

ABN, one of the world's largest investment banks, already has a significant presence in the region, with operations based in the United Arab Emirates.

Commenting on the new membership, ABN Amro chief executive Jeroen Drost said that the move signalled his bank's intention to expand its operations in the Middle East, becoming a major presence in the region.

"Dubai continues to develop as a world financial centre for our business in the region where we intend to significantly build our capabilities in order to foster stronger client relationships," Mr Drost said.

"We view the region as key to the continued growth of our Middle East capital markets franchise and out membership of the DIFX will strengthen this position, where the UAE will help fulfil out regional business potential."