Maktoum Bin Mohammed Engages With Deutsche Bank Chairman On UAE Financial Sector Growth
H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, recently engaged in discussions with Alexander Wynaendts, Chairman of the Supervisory Board of Deutsche Bank AG. The meeting focused on the UAE's banking sector, which is poised for significant growth due to technological advancements and digital transformation.
The UAE's financial sector is leveraging its strengths in governance and infrastructure to create new opportunities for international banks. This environment encourages global banks to explore these prospects. H.H. Sheikh Maktoum highlighted how these developments align with Dubai's vision for economic growth.
Dubai aims to become a leading hub for investment and enterprise growth in the global financial industry. The city is committed to supporting international banks by providing a competitive ecosystem that fosters long-term market development. This strategy aligns with the Dubai Economic Agenda D33, which seeks to double Dubai’s GDP by 2033.
Deutsche Bank, established in 1870, is a major player in the global banking scene. It offers services across corporate banking, investment banking, private banking, and asset management. Operating in 56 countries, it employs approximately 90,000 people worldwide.
As of late 2025, Deutsche Bank reported €1.054 trillion in assets under management within its Asset Management division and €675 billion within its Private Banking division. In 2024, its net revenues increased by 4%, reaching €30.1 billion.
The bank's Middle East and Africa hub is located at the Dubai International Financial Centre (DIFC). Here, it provides comprehensive services including investment banking, asset management, private wealth management, and global transaction banking.
Strategic Partnerships
The meeting also emphasized the importance of forming deeper partnerships with international financial institutions. This approach supports Dubai’s ambition to rank among the top three urban economies globally and as one of the top four financial hubs worldwide.
Key figures attending the meeting included Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs; Helal Almarri, Director-General of the Dubai Department of Economy and Tourism; Essa Kazim, Governor of DIFC; and Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD.
This gathering underscored Dubai’s commitment to facilitating international banking expansion through a supportive business environment that enhances competitiveness.
With inputs from WAM
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