Dubai: 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), met with Nonkululeko Nyembezi, Independent Non-Executive Chairperson of Standard Bank Group (SBG), one of Africa’s largest banks.
According to Emirates News Agency, H.H. Sheikh Maktoum emphasized the UAE’s dedication to establishing strategic partnerships with leading financial institutions worldwide. This commitment aligns with the UAE’s ambition to solidify its standing as an international hub for finance, capital, and trade. He highlighted the UAE’s infrastructure, regulations, and business environment as key factors enabling financial institutions to grow and explore new markets.
The discussions included Standard Bank Group’s expansion plans in the Middle East and potential collaboration opportunities with the UAE’s financial ecosystem. Dubai’s role in supporting Standard Bank’s initiatives to link GCC capital with African infrastructure development was also explored, aiming to strengthen Middle East-Africa ties and contribute to Africa’s economic growth.
H.H. Sheikh Maktoum reiterated Dubai’s efforts to facilitate economic linkages globally, aligning with the Dubai Economic Agenda (D33), which seeks to double the emirate’s GDP and position it among the world’s top four global financial hubs by 2033.
Standard Bank Group, headquartered in Johannesburg, operates in 20 African countries and key global financial centres. With a history of over 160 years, it is a major player in financing trade, investment, and infrastructure projects connecting Africa with the global economy. The bank has been present in the UAE since 1997 and established its first full overseas branch in the DIFC in 2006, offering corporate and investment banking services.
The meeting, held at H.H. Sheikh Maktoum’s office in Dubai, was attended by key figures including Helal Saeed Almarri, Director-General of the Dubai Department of Economy and Tourism; Essa Kazim, Governor of the DIFC; Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD Bank; and Arif Amiri, CEO of the DIFC Authority.
