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Standard Chartered's Hong Kong Arm Signs Dubai Cooperation Pact

Editorial Staff

3 December 2023

in Hong Kong has signed a pact with Dubai’s government to promote business links between the Asian and Middle East city-states. The agreement includes areas such as family offices, asset management and fintech.

The agreement was signed by Mary Huen, chief executive, Hong Kong, Standard Chartered, and Hadi Badri, CEO, Dubai Economic Development Corporation, Dubai Department of Economy, and Tourism, Standard Chartered said in a statement this week.  

The bank and government department will deepen cooperation on areas such as promoting the growth of capital market activities, family offices, asset management, fintech and virtual asset industries. They will also develop sustainable and green financing solutions; solutions to support trade and commodity financing for imports, exports, and re-exports; and promote the growth of startups.

The UK/Hong Kong-listed bank aims to tap into what it sees as important China-Africa/Middle East financial links. 

“In the first half of 2023, Standard Chartered’s network income from the China-AME corridor surged by 76 per cent year-on-year, reflecting the growing business ties between these regions,” Huen said. “Hong Kong, as a super-connector and an international financial centre, will play a key role in facilitating the associated capital and trade flows.”