Maktoum bin Mohammed Holds Meeting with Bank of Singapore Chairman

Photo : Dubai Government Media Office

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, the First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance of the UAE, recently met with Andrew Lee, the Chairman of Bank of Singapore and the Group Chairman of Oversea-Chinese Banking Corporation (OCBC).

During the meeting, they discussed the strong partnership between Dubai and the Bank of Singapore, which is a well-known private bank and a key part of OCBC Bank, one of the largest financial organizations in Southeast Asia. The conversation focused on the bank’s growing relationship with Dubai after it set up its operations in the Dubai International Financial Centre (DIFC) in 2016. They also talked about the bank’s plans to expand its presence in the region, with Dubai acting as a base for its operations. Dubai’s modern financial infrastructure and the strong support it offers to financial businesses have helped the city strengthen its position as a leading global financial centre.

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The meeting also emphasized Dubai's commitment to working closely with top global financial institutions. It showed Dubai’s efforts to continue being a reliable hub for business. The discussion covered the emirate’s progressive financial policies that encourage sustainable growth. The role of banks in supporting important projects and developing new financial technologies was also highlighted.

Further talks explored the many benefits and opportunities that Dubai and the UAE offer to financial institutions, such as world-class infrastructure and a solid legal and regulatory system. These factors create the perfect environment for businesses to thrive.

The meeting was attended by several important figures, including His Excellency Helal Saeed Al Marri, the Director General of Dubai’s Department of Economy and Tourism; His Excellency Essa Kazim, the 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 top private bank that specializes in managing wealth. Since 2010, the bank’s assets have grown from $20 billion to $116 billion as of September 2023. It provides a wide range of financial services, including investment advice, wealth planning, and trust solutions.