Arab Bank to establish regional back-office processing centre at Dubai Outsource Zone

Notes and media contacts

About Arab Bank

Arab Bank is based in Amman, Jordan. It is the first private sector financial institution in the Arab world and the largest Arab banking institution by equity. Arab Bank was established in Jerusalem in 1930 by the late Abdul Hameed Shoman, whose vision was to create a financial institution dedicated to the development of Arab economies. Today, Arab Bank Group enjoys a shareholder equity base of US$ 5.4 billion. The Group has a global network of 400 branches and subsidiaries in 28 countries and 5 continents, and enjoys a prominent position in key markets and financial centers in Europe, Asia-Pacific, and the United States. Arab Bank Group provides a wide variety of financial services to individuals, corporations, government agencies, and other international financial institutions. Its services include corporate, retail, private, investment banking and wealth management. In 2005, the Group continued its sustainable performance, with a net profit of $503.2 million (after taxes and provisions) representing a rise of almost 54% over 2004.

About Dubai Outsource Zone

Dubai Outsource Zone (DOZ) is the world's first 'free zone' dedicated to the outsourcing industry. DOZ offers a comprehensive infrastructure and environment for offshore service providers to set up global or regional hubs servicing the worldwide market. DOZ's offering includes 100% exemption from taxes, arguably the world's most reliable technology and communications infrastructure, a one-stop shop of support services and the best possible working environment. Key features of DOZ infrastructure, for which construction has started, include a Plug and Play Centre that will provide a ready infrastructure for BPO service providers to set up their operations and start providing their services. It contains a pre-built infrastructure for outsourcing companies equipped with the latest technology that enables companies to get their business up and running from the moment they move into DOZ. In addition, the development will include a Research Centre for companies that offer outsourced R&D services and a Networking Centre to facilitate collaboration and business opportunities

within the community. A significant feature of the master plan is a residential complex to be built by private investors. The DOZ master plan also includes sports, leisure and retail facilities that provides professionals the convenience of living and working in the same locality. In addition, this inexpensive residential facility will reduce personal relocation costs for employees of companies in the Zone. With world-class infrastructure, a range of business enabling services, access to skilled talent, huge cost savings, business-friendly regulations and a strategic geographical location, Dubai Outsource Zone is all set to become one of the world's leading offshore hubs. DOZ is being built on a site adjacent to the 'Academic City' project close to the Emirates Road in Dubai.

For further information, please contact:

Baiju Francis
Account Manager
JIWIN
The Public Relations Arm of Dubai Press Club
T:+9714 361 3 596
M:+97150 7971996