Standard Life International is planning to shut down its office in the Dubai International Financial Centre at the end of January 2015, reported International Adviser.
The planned closure, which is subject to regulatory approvals, follows changes in the regulatory landscape and resulting environment.
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The publication said the company will contact all customers with an in-force savings and investment plan to offer them a closure value that includes an 8% enhancement which will be paid into their plan.
The shutdown of Dubai office will result in the nine job losses, including Middle East CEO Chris Divito.
Sandy Begbie, COO of Standard Life said: "As a result of recent changes in the UAE regulatory landscape, we no longer feel that our business in Dubai can offer our shareholders and customers long-term sustainable value.
"This announcement does not impact on our wider plans for our business and we will continue to seek opportunities to broaden our global reach," Begbie added.
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