HSBC Bank Middle East Limited moves its Head Office and place of incorporation from Jersey to the Dubai International Finance Centre.
With effect from 30 June 2016, HBME has moved its place of incorporation and head office from Jersey, Channel Islands, to the Dubai International Financial Centre (DIFC), as a result of which it has become lead regulated by the Dubai Financial Services Authority. HBME will remain locally regulated in each of the countries in which it operates by the country’s Central Bank and its other regulators.
All of your banking arrangements and services will continue uninterrupted and unchanged and you do not therefore need to take any further action. For more information, please visit our Frequently Asked Questions.
What has HSBC Bank Middle East Limited ("HBME") done?
Why has HBME moved it Head Office and place of incorporation to the DIFC?
What is the DIFC and who are the DFSA?
What will change for HBME?
How does it impact me?
What do I need to do?
What does this mean for the existing agreed terms and conditions for my borrowing?
Are there any changes to my products/services/customer terms and conditions?
Will the Migration result in re-papering of any existing contracts with HBME?
Are there any underlying differences that I should be aware of from this change (customer rights, protection, etc...)?
Will there be any regulatory capital requirement changes for HBME as a result of its Migration to the DIFC?
Will the DFSA have cross country oversight over HBME i.e. outside of the DIFC?
I have a wealth product with HSBC - will this/these be impacted by the regulatory change?
Will the Migration impact the Ratings of HBME?
Will this change have any business continuity impact for any products or services currently offered out of HBME?
Will there be any changes in your financial reporting - information and timelines resulting from this move?
Does the DIFC operate a deposit protection scheme?