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JP Morgan Receives In-principle Approval From Abu Dhabi’s FSRA

by WAYA Staff - Nov 29, 2023
JP Morgan Receives In-principle Approval From Abu Dhabi’s FSRA

• JP Morgan, a multinational financial services firm, is set to expand its payments and corporate banking services in Abu Dhabi after receiving in-principle approval from the emirate’s Financial Services Regulatory Authority (FSRA) to upgrade its license to category one.

• CEO Jamie Dimon made the significant announcement during virtual remarks at the Abu Dhabi Economic Forum, coinciding with the commencement of Abu Dhabi Finance Week. This virtual platform highlighted the global importance of the expansion.

• This initiative solidifies JP Morgan’s commitment to the region, building upon its established presence in ADGM since 2021 and over a decade in the broader UAE market.



The American multinational financial services firm JP Morgan announced it will expand its payments and corporate banking services in Abu Dhabi after receiving in-principle approval from the emirate’s Financial Services Regulatory Authority (FSRA) to upgrade its license to category one, according to media reports.

The announcement was made as virtual remarks by CEO Jamie Dimon at the Abu Dhabi Economic Forum, held on the first day of the Abu Dhabi Finance Week.

The bank is planning to take deposits and offer payments to wholesale banking clients from the Abu Dhabi Global Market (ADGM), the financial center of the UAE capital. 

The bank was first set up in ADGM in 2021 but has been present in the UAE for more than 10 years.

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