Union Bank Launches in UAE via Ithmar Partner
Union Bank, one of the largest banks in Jordan, has announced its entry into the United Arab Emirates market through a strategic partnership with Ithmar International Holding. Under this agreement, a memorandum of understanding was signed to establish a new bank in the Abu Dhabi Global Market (ADGM). The new bank, which has been granted a Category One banking license, aims to serve as a comprehensive platform for businesses and clients in the region, enhance cross-market operations, and support international transactions and business activities. This move is part of the bank's regional growth and expansion strategy, with a commitment to compliance with regulatory requirements in both the UAE and Jordan. It marks a significant milestone in expanding its presence beyond Jordan and Iraq and leveraging the opportunities offered by the Abu Dhabi Global Market.
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