J.P. Morgan is accelerating the growth of its J.P. Morgan Payments business in ADGM by bringing its global best-in-class Treasury capabilities to the United Arab Emirates (UAE), reaffirming its commitment to the region.

J.P. Morgan Middle East Ltd., the firm’s legal entity in ADGM, is a category one license holder under the Financial Services Regulatory Authority (FSRA) in the region. This allows the firm to offer a wide range of solutions including liquidity management and multi-currency payments capabilities to clients in the region, backed by the strength and reach of the global bank.

J.P. Morgan supports a range of clients in the UAE, including the energy giant ADNOC Group, which is expanding its global Treasury services in ADGM. Inaugurated in 2015, ADGM is one of the largest financial districts in the world¹, attracting a diverse range of businesses, including financial institutions, asset management firms, fintech companies, multinational corporations and professional services firms.

Arvind Ramamurthy, Chief Market Development Officer at ADGM, said, “J.P. Morgan’s expanded capabilities in ADGM reaffirm our position as a global hub for sophisticated treasury and financial services, providing a clear bridge to capital and growth. This development further strengthens ADGM and Abu Dhabi as a financial nexus for the region and beyond, enabling national champions such as ADNOC, as well as other major institutions, to support their international operations and long-term ambitions from here.”

J.P. Morgan has been serving clients in the Middle East for nearly 100 years, with offices across the region including Abu Dhabi, Doha, Dubai and Riyadh. This long history in the region makes J.P. Morgan uniquely positioned to deliver financial services capabilities to local and multinational clients seeking global growth, backed by a deep understanding of the regulatory landscape.

Khaled Hobballah, Senior Country Officer of MENA and Head of Global Markets for MENA and Turkey at J.P. Morgan, said, “This is a significant milestone in J.P. Morgan’s continued investment and expansion in the UAE, and is part of our ongoing commitment to the region. With our global reach and local expertise, we are here to support our local and multinational clients to grow and scale as required.”

Tristan Attenborough, Senior Executive Officer at J.P. Morgan Middle East Ltd., said, “Delivering on our commitment to Abu Dhabi and ADGM has been a top priority for the firm and we are delighted to collaborate with key clients such as ADNOC in the region. As the global leader in payments, our platform in ADGM brings world-class end-to-end payment and transaction capabilities to support both companies headquartered in the region and multinationals seeking to develop their businesses here. We have been thoughtfully client-first in our strategic presence and the solutions we offer and this approach remains steadfast as we move forward.”

Globally, J.P. Morgan Payments is market-leading, processing more than $10 trillion payments daily, operating in over 160 countries and over 120 currencies. J.P. Morgan Payments combines treasury services, trade & working capital, and card and merchant services capabilities to help clients pay customers or employees in different currencies around the world.

Learn more about J.P. Morgan Payments in the Middle East here and the key trends in the region here.