Abu Dhabi Investment Office Appoints HSBC As Preferred International Banking Partner In Asia

The Abu Dhabi Investment Office (ADIO) has selected HSBC Bank Middle East in the UAE as its preferred international banking partner in Asia. This partnership was formalised during a signing ceremony attended by Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), and Abdulfattah Sharaf, Chairman of the Board of HSBC Bank Middle East Limited. The agreement was signed by Badr Al-Olama, Director-General of ADIO, and Mohamed Al Marzooqi, Chief Executive of HSBC in the UAE.

Through this strategic partnership, ADIO aims to enhance global business and economic connectivity. The collaboration will enable Abu Dhabi corporations, financial institutions, and family offices to explore business opportunities in key international markets where HSBC operates. This initiative is expected to strengthen ties between Abu Dhabi and Asia.

The partnership will also promote two-way trade and investment flows between Abu Dhabi and Asia. By organising impactful events in international markets, ADIO plans to highlight Abu Dhabi's investment opportunities. Additionally, HSBC clients will receive assistance in establishing their regional presence in Abu Dhabi to expand into nearby markets.

Al Olama commented on the Memorandum of Understanding (MoU), stating that the collaboration with HSBC highlights ADIO's dedication to fostering global partnerships that drive inward investment and support outbound growth. He emphasised that this effort contributes to Abu Dhabi's long-term economic transformation by creating a dynamic business ecosystem.

Mohamed Al Marzooqi noted that the UAE is youthful, ambitious, and on the rise. He highlighted that Abu Dhabi's Falcon Economy plays a central role in the nation's prosperity. With rapid growth in capital flows between Asia and the UAE, he sees potential for businesses on both sides to access new markets through stronger policy links, trade agreements, and liberalisation of capital markets.

HSBC has been recognised for its excellence by being named UAE’s Best International Bank and Asia’s Best Bank at the Euromoney Awards for Excellence 2024. This recognition underscores HSBC's significant role in facilitating economic growth and development across regions.

This collaboration marks a significant step towards enhancing economic ties between Abu Dhabi and Asia. By leveraging HSBC's extensive network and expertise, ADIO aims to create a vibrant business environment that attracts investors and fosters sustainable economic growth.

With inputs from WAM