Goldman Sachs gets Dubai financial zone license http://today.reuters.com/news/articleinvesting.aspx?view=CN&storyID=2006-08-08T202215Z_01_L08472508_RTRIDST_0_FINANCIAL-EMIRATES-GOLDMAN.XML&rpc=66&type=qcna
Tue Aug 8, 2006
DUBAI, Aug 8 (Reuters) - Goldman Sachs International (GS.N: Quote, Profile, Research) said on Tuesday it has obtained a license to operate at the Dubai International Financial Centre in the United Arab Emirates.
"Goldman Sachs International ... has been granted a license by the Dubai Financial Services Authority to operate as an authorised firm in the Dubai International Finance Centre (DIFC)," the statement said.
DIFC offers incentives such as zero taxation, 100-percent foreign ownership and independent regulation in a bid to establish Dubai, a regional trading hub in the United Arab Emirates, as a regional financial hub.
Goldman Sachs, one of Wall Street's most influential banks, intends to offer a comprehensive range of services to its clients in the region, it said without giving further details.
In July, the centre said it had granted a license to Dutch bank ABN AMRO (AAH.AS: Quote, Profile, Research) to operate in the DIFC.
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