Dubai, UAE – His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, recently hosted Alexander Wynaendts, Chairman of the Supervisory Board of Deutsche Bank AG, at his office. Their discussions showcased Dubai’s expanding role as a key global financial hub, focusing on uncovering fresh opportunities for international banking.
His Highness noted the UAE’s banking landscape is experiencing significant growth, driven by technological advancements and digital innovation. Dubai’s robust infrastructure, regulatory framework, and governance attract leading international banks, creating vast opportunities.
Conversations revolved around Dubai’s ongoing development as a prime location for investment, capital influx, and economic expansion. The dialogue emphasized the Emirate's dedication to fostering international banking institutions through a competitive environment that bolsters long-term market evolution. Strengthening ties with global financial entities aligns with the Dubai Economic Agenda D33, which aims to double the city’s GDP by 2033 and position it among the top three urban economies and top four global financial centers.
Deutsche Bank, which was founded in 1870, stands as a prominent global bank present in 56 countries, employing around 90,000 people. The institution reported net revenues of €30.1 billion in 2024, reflecting a 4% rise from the previous year. Its Asset Management arm controls €1.054 trillion, while its Private Banking sector manages €675 billion. In the Middle East and Africa, Deutsche Bank operates from the Dubai International Financial Centre (DIFC), providing a comprehensive range of investment and monetary services.
The meeting also involved key UAE officials, such as His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs; His Excellency Helal Almarri, Director General of Dubai Department of Economy and Tourism; His Excellency Essa Kazim, Governor of DIFC; and His Excellency Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD.
This meeting underscores Dubai’s persistent goal of enhancing its position as a global financial leader while promoting innovation and attracting banking expertise.
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