Maktoum bin Mohammed meets with Chairperson of Standard Bank Group

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and President of the Dubai International Financial Centre (DIFC), today met with Nonkululeko Nyembezi, Independent Non-Executive Chairperson of Standard Bank Group (SBG), one of Africa’s largest banks.

During the meeting, His Highness reaffirmed the UAE’s commitment to forging strategic partnerships with leading global and regional financial institutions, in line with its ambition to strengthen its position as an international hub for finance, capital, and trade. He noted that the UAE’s world-class infrastructure, forward-looking regulations, and business-friendly environment continue to provide fertile ground for financial institutions to expand their footprint and drive growth across new markets. The discussions touched on Standard Bank Group’s plans for expansion in the Middle East and opportunities for collaboration with the UAE’s growing financial and investment ecosystem.

The meeting also discussed how Dubai can support the bank’s efforts to connect GCC capital with infrastructure development in Africa, further building Middle East–Africa ties and contributing to sustainable economic growth in the continent. His Highness highlighted Dubai’s efforts to serve as a bridge for economic linkages between global markets, supporting initiatives that drive shared prosperity and long-term development. Such partnerships align with the Dubai Economic Agenda (D33), which aims to double the emirate’s GDP and establish it as one of the world’s top four global financial hubs by 2033, he added.

Headquartered in Johannesburg, Standard Bank Group is one of Africa’s largest banking groups, with operations in 20 African countries and key global financial centres. With a heritage spanning over 160 years, the bank plays a leading role in financing trade, investment, and infrastructure projects that connect Africa with the global economy. Standard Bank has been present in the UAE since 1997, initially through a representative office in Dubai. It established its first full overseas branch in the DIFC in 2006, providing corporate and investment banking services. As of 30 June 2025, Standard Bank had over 19.2 million clients.

The meeting, held at His Highness’s office in Dubai, was attended by His Excellency Helal Saeed Almarri, Director General of the Dubai Department of Economy and Tourism; His Excellency Essa Kazim, Governor of the Dubai International Financial Centre (DIFC); His Excellency Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD Bank; and Arif Amiri, Chief Executive Officer of the DIFC Authority.