JPMorgan is doing more in Abu Dhabi: Multinational financial services firm JPMorgan is expanding its payments and corporate banking operations in Abu Dhabi, reports Reuters. The investment bank will offer deposit services and payment processing to whole banking clients from the Abu Dhabi Global Market, with which it registered as a legal entity in 2021.

JPMorgan has had a physical presence in the UAE for a decade. The Financial Services Regulatory Authority (FSRA) granted the firm in-principle approval to upgrade its license to category one yesterday, in an effort to position the UAE as a leading destination for economic activity and diversify its economy away from oil, according to Reuters.

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