Post by : Badri Ariffin

Dubai, UAE – His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, welcomed Alexander Wynaendts, Chairman of the Supervisory Board of Deutsche Bank AG, at his office today. Their meeting emphasized Dubai's growing role as a pivotal global financial center and aimed to explore novel opportunities in international banking.

His Highness highlighted the UAE’s banking and financial landscape, which is currently experiencing significant growth spurred by technological advancements and digital evolution. He pointed out that Dubai's well-regarded strengths in governance, regulation, and business amenities create advantageous prospects for major international banks.

The discussions revolved around Dubai's ongoing development as a prime hub for investment and business expansion. The session reaffirmed Dubai's intention to cultivate international banking institutions by fostering a competitive ecosystem aimed at robust market growth. Strengthening partnerships with global financial entities was marked as a critical focus, in line with the Dubai Economic Agenda D33, aspiring to double the city’s GDP by 2033 and establish Dubai as one of the top three urban economies and leading financial hubs worldwide.

Deutsche Bank, founded in 1870, is a prominent global bank functioning in 56 nations with a workforce of around 90,000. The bank's net revenues for 2024 reached €30.1 billion, reflecting a 4% year-on-year increase. With €1.054 trillion managed in its Asset Management division and €675 billion in Private Banking, Deutsche Bank operates from the Dubai International Financial Centre (DIFC) in the Middle East and Africa, providing a comprehensive range of investment banking, asset management, private wealth management, and global transaction banking services.

The meeting also featured senior UAE officials, including His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs; His Excellency Helal Almarri, Director General of Dubai Department of Economy and Tourism; His Excellency Essa Kazim, Governor of DIFC; and His Excellency Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD.

This engagement highlights Dubai’s persistent strategy to fortify its leadership in global finance, fostering innovation, and drawing in international banking expertise.

#Global News