In a meeting that underscored Dubai’s growing influence in global finance, H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and UAE Minister of Finance, met with Georges Elhedery, Group CEO of HSBC Holdings, at the Dubai International Financial Centre (DIFC).
The conversation centered on Dubai’s accelerating transformation into a next-generation financial powerhouse—one built on innovation, digital integration, and strategic alliances with leading global institutions. Sheikh Maktoum emphasized that the UAE’s robust infrastructure, sound governance, and investor-friendly regulatory framework create an exceptional platform for international banks such as HSBC to strengthen their regional presence.
Discussions also explored HSBC’s expansion plans and the bank’s pivotal role in Dubai’s emergence as a major node in global financial networks. Sheikh Maktoum reaffirmed that Dubai’s appeal lies in its forward-looking economic vision, one anchored in resilience, sustainability, and continuous innovation. He highlighted that collaboration with global financial leaders supports the Dubai Economic Agenda D33—an ambitious blueprint to double the emirate’s GDP and rank it among the world’s top three urban economies and top four financial hubs by 2033.
HSBC’s relationship with the UAE dates back to 1946, when it opened its first branch in Dubai. The bank now employs over 3,000 people in the country, operating its Middle East headquarters from DIFC. In a significant move earlier this year, HSBC inaugurated its first-ever wealth centre in the Middle East—a 24,000-square-foot facility in Dubai—marking its largest global investment in wealth and premier banking in more than two decades.
Serving over 41 million customers across 57 markets, HSBC continues to play a crucial role in linking international trade and investment flows through Dubai and the wider UAE. The group reported a record pre-tax profit of $32.3 billion in 2024, underscoring its strong global performance.
The meeting was attended by senior UAE officials including Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs; Helal Saeed Almarri, Director-General of the Dubai Department of Economy and Tourism; and Essa Kazim, Governor of the Dubai International Financial Centre.
