Barclays launches retail banking in the UAE

Notes and media contacts

About Barclays:

Barclays PLC is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services. We are one of the largest financial services companies in the world by market capitalisation. Operating in over 50 countries and employing 123,000 people, we move, lend, invest and protect money for over 27 million customers and clients worldwide. With over 300 years of history and expertise in banking, Barclays PLC has six major businesses.
UK Banking delivers banking products and services to over 14 million retail customers and 780,000 businesses in the UK.

Barclaycard is one of the leading credit card businesses in Europe, and has 9.8 million UK customers and 6.4 million international cards in issue.

Barclays International Retail and Commercial Banking operations have over 2 million international clients, in geographies which currently include France, Spain, Portugal, Italy, India, Africa and the Middle East. Absa has an additional 8.3 million retail customers in South Africa.

Barclays Capital, the investment banking division, provides corporate, institutional and government clients with solutions to their financing and risk management needs.
Barclays Global Investors is one of the world's largest asset managers and a leading provider of investment management products and services. Total assets under management at 31st December 2006 were $1.8 trillion.

Barclays Wealth serves affluent, high net worth and intermediary clients worldwide, providing private banking, asset management, stockbroking, offshore banking, wealth structuring and financial planning services. At 31st December 2006, total client assets were £93.0 billion.

About Barclays in the Middle East:-

About Barclays Global Retail and Commercial banking:
Barclays Commercial Banking offers a wide spectrum of customised solutions to meet the needs of its customers. This ranges from vanilla trade finance requirements such as letters of credit and guarantees to more complex products such as commodity financing, acquisition financing and structured financing packages for specific sectors such as property. The solutions provided by Barclays Commercial Banking are tailored, and can be rapidly customised to meet the evolving needs of its growing customer base. In recognition of the strong trade and investment linkages within the Gulf and North African region, the Barclays Commercial banking team has developed its regional hub in the UAE and as a result is able to offer a seamless and integrated offering across the Middle East and North Africa. The operation now also includes Retail. Amin Habib is the MD for the UAE/GCC and Ahmed Khan is the CEO Global Retail and Commercial Banking, Emerging Markets.

About Barclays Wealth:

Barclays Wealth is the UK's leading wealth manager and has £93bn (US$184bn) client assets globally. It serves affluent, high net worth and intermediary clients worldwide, providing international and private banking, financial planning, investment services and brokerage. Thomas L. Kalaris is the Chief Executive of Barclays Wealth and he joined the business at the start of 2006. Barclays Wealth is part of the Barclays Group, a UK-based financial services group, with a large international presence in Europe, Middle East, the USA, Africa and Asia. Barclays has been operating for more than 300 years with 25 million customers and 122,600 employees in over 50 countries.

Soha Nashaat, Managing Director, Head of Middle East, North Africa and Turkey for Barclays Wealth won the 'Women Banker of the Year' award at the 6th Middle East Businesswomen and Leaders Achievements Awards ceremony, which was held on the 8th of March on International Women's day. The 'Woman Banker of the Year' is awarded by the institute to one woman whose professional achievements and personal integrity have made her an icon within the Middle East banking and finance industry. Her career achievements and contribution are clear evidence to how women's roles have changed in the Middle East banking and finance industry.

About Barclays Capital:

Barclays Capital is the investment banking division of Barclays Bank PLC which has an AA long-term credit rating and a balance sheet of over £996 billion. With a distinctive business model, Barclays Capital provides large corporate, government and institutional clients with solutions to their financing and risk management needs. Barclays Capital has offices in 26 countries, employs over 13,200 people and has the global reach and distribution power to meet the needs of issuers and investors worldwide.

In the Middle East, Barclays Capital is licensed to operate from the Dubai International Financial Centre (DIFC) and the Qatar Financial Centre (QFC). Barclays Capital was in fact the first investment bank in the DIFC and one of the founding members of the QFC. Since spring 2004, Barclays Capital has significantly expanded the resources devoted to the Middle East, bringing the firm's expertise in debt financing and risk management to the region. The Barclays Capital team in the Middle East & North Africa region is headed by Cyrus Ardalan, Vice Chairman.

Barclays Capital was recently involved in 2 landmark transactions which were awarded Deals of the Year 2006 by Islamic Finance News:
• Deal of the Year, Ports, Customs & Free Zone Corporation (PCFC), US$3.50 billion Musharakah Pre-IPO Sukuk
• Ijarah Deal of the Year, Nakheel, US$3.52 billion Ijarah Pre-IPO Sukuk
• United Arab Emirates Deal of the Year, Ports, Customs & Free Zone Corporation (PCFC), US$3.50 billion Musharakah Pre-IPO Sukuk

For further information, please contact:

Florence Goodman
Head of Public Relations & Corporate Relations
UAE/ME
Tel: +9714 3626785
Mobile: +97150 651 871

Maitha Al Qader
Public Relations Manager
Tel: +9714 3626772
Mobile : +97150 6525903