Maktoum Bin Mohammed Engages With Bank Of Singapore Chairman On Financial Collaboration
H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai and UAE's Deputy Prime Minister and Minister of Finance, recently met with Andrew Lee, Chairman of Bank of Singapore and Group Chairman of Oversea-Chinese Banking Corporation (OCBC). Their discussions focused on enhancing cooperation with the Bank of Singapore, a prominent private banking arm of OCBC Bank, which is among Southeast Asia's largest financial entities.
The meeting underscored Dubai’s commitment to strengthening ties with top global financial institutions. This effort aims to solidify its reputation as a reliable business hub. Discussions also covered the emirate’s innovative financial policies that promote sustainable growth and the crucial role banks play in funding strategic projects and advancing financial technology.
Dubai's advanced financial infrastructure and extensive support for financial institutions have reinforced its position as a leading global hub for finance and business. The emirate offers incentives like world-class infrastructure and a robust regulatory framework, creating an optimal environment for businesses to thrive.
The meeting also highlighted the bank’s growing connections with Dubai since establishing itself in the Dubai International Financial Centre (DIFC) in 2016. The bank envisions expanding its operations in the region from this strategic location.
Bank of Singapore is renowned for its wealth management solutions. Its assets under management have grown significantly from $20 billion in 2010 to $116 billion by September 2023. The bank provides a wide array of services, including investment advisory, wealth planning, and trust solutions.
The meeting was attended by several key figures: Helal Saeed Al Marri, Director General of Dubai’s Department of Economy and Tourism; Essa Kazim, Governor of DIFC; Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD; Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers; and Arif Amiri, CEO of DIFC Authority.
The discussions further explored the incentives offered by the UAE and Dubai to financial institutions. These include world-class infrastructure and a robust regulatory framework that ensures an optimal environment for businesses to succeed.
This meeting reflects Dubai's ongoing efforts to enhance cooperation with leading global financial institutions. By doing so, it reinforces its status as a trusted business hub while supporting sustainable growth through innovative policies.
With inputs from WAM
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