Tricor Group, a member of The Bank of East Asia Group, has formed a joint venture with UAE based Praesidium to foray into Dubai and the Middle East markets.

The joint venture, which will provide back office services to conventional and Islamic businesses in the Middle East, is named as Tricor Praesidium Limited.

The JV, coupled with Tricor’s global reach, is expected to have a combined resource capacity of over 1,400 staff across 22 offices.

Tricor Praesidium managing director Hari Bhambra said that the key service lines to be offered through the JV will include, inter alia, outsourced payroll, company secretarial, non-executive directors and specialized non-executive directors services for Islamic institutions; outsourced compliance services for conventional and Islamic institutions; regulatory Shari’a compliance systems reviews; share registration and carbon credit advisory services.