Dubai: H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, engaged in discussions with Andrew Lee, Chairman of Bank of Singapore and Group Chairman of Oversea-Chinese Banking Corporation (OCBC).
According to Emirates News Agency, the meeting focused on strengthening cooperation with Bank of Singapore, a prominent private bank and OCBC Bank's exclusive private banking division. The conversation emphasized the bank's expanding relationship with Dubai since it established a presence in the Dubai International Financial Centre (DIFC) in 2016, and its plans to broaden operations in the region from Dubai. The city's advanced financial infrastructure and support for financial entities have bolstered its reputation as a major global finance and business center.
The meeting underscored Dubai's dedication to fostering collaboration with major global financial institutions, reinforcing its role as a reliable business hub. Discussions also covered the emirate's innovative financial policies that promote sustainable growth, and the contribution of banks in funding strategic initiatives and advancing financial technology.
Further discussions examined the benefits and incentives provided by the UAE and Dubai to financial institutions, such as superior infrastructure and a strong regulatory framework that ensures a favorable environment for business success.
The meeting included the presence of 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.
Bank of Singapore is a leading private bank focusing on wealth management solutions, with assets under management growing from $20 billion in 2010 to $116 billion as of September 2023. The bank provides a wide range of financial services, including investment advisory, wealth planning, and trust solutions.
