Russian lender granted banking license by Gulf state – FT ...News

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Russian lender granted banking license by Gulf state – FT
source : Russia Today ( News ) () 18
MTS Bank is reportedly the first foreign bank in several years to be approved to operate in the UAE The United Arab Emirates has approved a license for Russia’s MTS Bank, sparking speculation that the Gulf state could become a potential financial haven for Moscow, the Financial Times reported on Wednesday.  According to the report, which cites officials and executives briefed on the matter, the decision by the UAE’s central bank will help meet the growing demand for financial services from Russian expatriates. “It’s all about the business case [and] the number of Russians living here now,” one of the sources was q

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