Maktoum Bin Mohammed Engages With Standard Bank Group Chairperson On Financial Collaboration Opportunities
H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and President of the Dubai International Financial Centre (DIFC), recently met with Nonkululeko Nyembezi, Independent Non-Executive Chairperson of Standard Bank Group (SBG). The meeting underscored the UAE's dedication to forming strategic alliances with major global and regional financial institutions.
The discussions explored Standard Bank Group's expansion plans in the Middle East and potential collaborations within the UAE's evolving financial ecosystem. They also considered how Dubai could assist the bank in linking GCC capital with African infrastructure projects, enhancing Middle East–Africa relations and fostering sustainable economic growth on the continent.
H.H. Sheikh Maktoum emphasised Dubai’s role as a connector for economic ties between global markets. He highlighted initiatives that promote shared prosperity and long-term development. These efforts align with the Dubai Economic Agenda (D33), which aims to double the emirate’s GDP and position it among the top four global financial hubs by 2033.
Standard Bank Group, headquartered in Johannesburg, is one of Africa’s largest banking entities. It operates in 20 African nations and key international financial centres. With over 160 years of history, it plays a pivotal role in financing trade, investment, and infrastructure projects that link Africa to the world economy.
Since 1997, Standard Bank has maintained a presence in the UAE, initially through a representative office in Dubai. In 2006, it opened its first full overseas branch at DIFC, offering corporate and investment banking services. As of 30th June 2025, Standard Bank served over 19.2 million clients globally.
The meeting took place at H.H. Sheikh Maktoum’s office in Dubai. Attendees included Helal Saeed Almarri, Director-General of the Dubai Department of Economy and Tourism; Essa Kazim, Governor of DIFC; Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD Bank; and Arif Amiri, CEO of DIFC Authority.
UAE's Business Environment
The UAE continues to offer an ideal environment for financial institutions to grow due to its advanced infrastructure, progressive regulations, and business-friendly climate. These factors provide fertile ground for expanding their reach into new markets.
H.H. Sheikh Maktoum reiterated that such partnerships are crucial for strengthening Dubai’s position as an international hub for finance, capital, and trade. This commitment aligns with the UAE's broader vision to enhance its global standing in these sectors.
With inputs from WAM
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