Maktoum Bin Mohammed Engages With Barclays CEO To Enhance Dubai's Financial Ecosystem
H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai and Minister of Finance, recently met with C S Venkatakrishnan, Group Chief Executive of Barclays. The meeting took place in Dubai and focused on strengthening the UAE's financial ecosystem to maintain its status as a global leader in innovation and competitiveness.
The discussions centred on leveraging Barclays' expertise to unlock growth opportunities by enhancing collaboration. This approach aims to utilise Dubai's strengths in infrastructure, regulations, and digital transformation. H.H. Sheikh Maktoum highlighted Dubai's strategic importance for international financial institutions looking to expand into regional and emerging markets.
H.H. Sheikh Maktoum expressed the UAE's commitment to forming long-term partnerships with global financial entities like Barclays. "We are focused on cultivating long-term strategic partnerships with global financial institutions like Barclays that advance the UAE’s financial ecosystem and accelerate our broader economic objectives," he stated. These collaborations align with the Dubai Economic Agenda D33, which aims to double the city's GDP by 2033.
Barclays is a prominent transatlantic bank offering a range of services including personal, corporate, and investment banking. With over 325 years of history, it operates in more than 40 countries and employs around 85,000 people. Its Middle East hub is located at the Dubai International Financial Centre (DIFC).
The meeting also underscored Dubai's role as a strategic platform for businesses aiming to expand internationally. H.H. Sheikh Maktoum reiterated support for companies using the UAE as a base for regional and global market expansion. This strategy supports the goal of positioning Dubai among the world's top three urban economies and top four global financial hubs by 2033.
The meeting was attended by key officials including Abdulla Al Basti, Secretary-General of The Executive Council of Dubai; Abdulrahman Saleh Al Saleh, Director-General of Dubai Finance; Helal Saeed Almarri, Director-General of the Dubai Department of Economy and Tourism; and Essa Kazim, Governor of the DIFC.
Through these discussions, both parties aim to foster an environment conducive to mutual growth and innovation within the financial sector.
With inputs from WAM
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