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Emirates News Agency – Makhtoum bin Mohammed takes over as Chairman of the Board of Directors and CEO of China Relations

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– China Bank of Communications is preparing to establish a branch in the Dubai International Financial Centre.
– Makhtoum bin Mohammed: Dubai is a model platform for services and financial institutions looking to expand beyond its borders and reach new economies and financial centers.
DUBAI, 21st October, 2017 (WAM) – His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance and Chairman of the Dubai International Financial Center, today welcomed Ren Dickey, Chairman of the Dubai International Financial Centre. Board of Directors and CEO of Bank of China Communications (BOCOM), one of China’s largest banks.
The meeting, held at the Dubai International Financial Centre, explored ways to enhance cooperation between the two sides in light of Dubai’s great interest in the financial sector and its attractiveness to the global financial and business community. World-class infrastructure and flexible legislative frameworks guarantee an ideal environment for investors to develop their businesses.
The meeting also discussed ways to promote strong financial and economic ties between the UAE and China and support growing partnerships and cooperation between the financial and business sectors in Dubai and China. China Communications Bank is currently preparing to establish a new office in the Dubai International Financial Center to provide a range of financial and banking services and to tap into business opportunities in the region.
At the start of the meeting, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Chairman of the Board of Directors and Chief Executive Officer of China Communications, welcomed and emphasized: “Dubai’s interest in expanding relations with leading financial institutions and its relations with the global financial and business community by providing banks and its various components in the world. strengthen and improve.” With all the merits for excellence, in an effort to achieve more joint successes, and based on the compilation of data, Dubai’s strong commitment to develop its business system in line with the goals of the Dubai Economic Agenda D33 to double the size of Dubai’s economy in the next ten years and strengthen its position among the top 4. Global financial centers. .
His Highness said: “Based on Dubai’s world-leading position, Dubai is keen to develop the future of the financial technology and innovation sector through strong partnerships with the most important international institutions to benefit from the business opportunities available in the region’s fastest growing markets. A global destination for financial services and financial institutions and international A leading hub for banks, financial institutions are expanding beyond their borders and seeking to reach new economies and financial centers.

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His Highness added: “By partnering with and encouraging major financial institutions such as the Bank of Communications of China to operate from DIFC, we aim to not only strengthen Dubai’s position in the global financial sector, but also contribute to providing exceptional opportunities. For development of service sector and industries.” Global Finance.
For his part, the Chairman of the Board of Directors and CEO of China Connections expressed his confidence in the distinguished and unique financial services offered by Dubai as a leading global financial center. A major hub for financial services in the region and the world, opening the way for… international companies and organizations working in this sector to improve their business and expand the scope of their services in the region, which increases their chances of success and growth.
The meeting was attended by His Excellency Mohammed bin Hadi Al Husseini, Minister of Financial Affairs His Excellency Helal Saeed Al Marri, Director General of Dubai Economy and Tourism, and His Excellency Isa Qasim, Governor of Dubai International Finance. Center, and Arif Amiri, CEO of the Dubai International Financial Center Authority.
It is noteworthy that the Bank of Communications of China was founded in 1908, and is one of the four oldest banks in China, and one of its largest in terms of total assets and market value. The bank received its business license from the Dubai International Financial Center in August 2023, marking a major milestone in its commitment to expand its presence in the region. With more than a century of heritage, Bank of China seeks to strengthen its presence in the UAE and the Middle East region, benefiting from Dubai’s strategic location and advanced infrastructure.
Headquartered in Shanghai, China, the bank offers personal banking and international corporate banking solutions. The bank’s net profit for the first half of 2023 rose 4.51% year-on-year to $6.32 billion. The bank has more than 90,000 employees worldwide and operates approximately 250 branches in China, 23 overseas banking branches and 69 overseas banking outlets in the United States, Asia, Australia and Europe.

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Imad al-Ali

Bill Dittman
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