Moody's is to set up an office in Dubai, subject to receiving applicable regulatory and legal approvals. The appointment of a representative director will be announced at a later date.
"Middle Eastern market participants are increasingly turning to the global capital markets to serve their financing needs," stated Chester Murray, executive vice president for Moody's international business. "Our new Dubai office will further enable Moody's to address the growing demand for in-depth, globally comparable credit analysis and ratings as well as ensure high-quality service to our Middle Eastern clientele."
"Our intention to establish an office in Dubai underscores our commitment to the region's capital markets," stated Frederic Drevon, Moody's senior managing director of Europe, Middle East and Africa (EMEA). "These markets are characterized by strong growth trends in a variety of sectors, including banking, insurance, structured finance and sukuk finance. Moody's looks forward to augmenting our participation in the local infrastructure of these important markets."
