His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, today met with Mark E Tucker, Group Chairman of HSBC Holdings, one of the world's largest banking and financial services organisations, at His Highness The Ruler's Court in Dubai.

His Highness Sheikh Maktoum bin Mohammed and the Chairman of HSBC Holdings discussed the global banking conglomerate’s plans to expand its operations in the region out of its base in Dubai. They also discussed the exceptional new opportunities for banking and financial companies resulting from the vast growth opportunities emerging in the UAE and the region. 

His Highness said Dubai is always exploring new ways to work with international banking and financial companies to shape a new future for the industry in the region. The Dubai government is committed to further enhance its supportive regulations and business ecosystem, as well as its enabling services and infrastructure to enable global banking and financial companies to thrive in an evolving market. As part of this effort, Dubai is also enhancing the soft and hard infrastructure to accelerate digital transformation in the sector and provide a conducive environment for new financial technologies to develop, His Highness added.

The HSBC Chairman said during the meeting that Dubai continues to provide the banking conglomerate the ideal base to serve its clients and tap new growth avenues across the region. The UAE, he said, represents one of HSBC’s major growth markets across the world, and the organisation is committed to further invest and grow its business in the country.

Since opening its first branch in Dubai in 1946, HSBC has played a significant role in the UAE’s economic and social development. In 2019, HSBC opened its new $250 million Middle East headquarters in Dubai, which houses 3,000 employees.

The meeting was attended by His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman of Dubai Airports and Chairman and Chief Executive of Emirates Airline and Group; His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs; His Excellency Mohammed Ibrahim Al Shaibani, Director General of His Highness The Ruler’s Court of Dubai; His Excellency Abdulla Al Basti, Secretary General, The Executive Council of Dubai; Samir Assaf, Chairman of the Boards of HSBC Bank Middle East Limited and HSBC Middle East Holdings; and Abdulfattah Sharaf, CEO, HSBC Bank Middle East, UAE & International Markets.