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Tricor expands into Dubai.

Tricor Group, a member of The Bank of East Asia Group, is expanding into Dubai and the Middle East through a new Joint Venture with Praesidium.

"This initiative will make Tricor a leading provider of Back Office Services to conventional and Islamic businesses in the Middle East," a press release claimed. "Tricor has joined forces with a Dubai based boutique compliance and client advisory practice specialising in both conventional and Islamic Finance, well known globally for its Islamic Finance support services."

Tricor Praesidium will be based in the Dubai International Financial Centre (DIFC). The JV's Managing Director, Hari Bhambra, said, "We are now able to support the Tricor Group and provide an even fuller range of outsourced services to both conventional and Islamic businesses, including global Shari'ah infrastructure support services which will include bookkeeping services for Shari'ah-compliant businesses, fund administration and custody advisory services to Islamic funds which will supplement the existing services currently offered by the Tricor Group. Key service lines to be offered through the JV will include, inter alia, outsourced Payroll, Company Secretarial, Non-Executive Directors and Specialised Non-Executive Directors Services for Islamic institutions; outsourced Compliance Services for conventional and Islamic institutions; Regulatory Shari'ah Compliance Systems Reviews; Share Registration and Carbon Credit Advisory Services."

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Publication:CPI Financial
Date:Sep 20, 2010
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