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ABU DHABI / WAM
The Abu Dhabi Investment Office (ADIO) has announced HSBC Bank Middle East in the UAE as their preferred international banking partner in Asia. Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), and Abdulfattah Sharaf, Chairman of the Board of HSBC Bank Middle East Limited, witnessed the signing ceremony of the agreement by Badr Al-Olama, Director-General of ADIO, and Mohamed Al Marzooqi, Chief Executive of HSBC in the UAE.
Through strategic collaboration, ADIO will strengthen business and economic connectivity at a global level by enabling Abu Dhabi corporations, financial institutions, and family offices to develop business prospects in key international markets where HSBC operates. Furthermore, the collaboration will facilitate two-way trade and investment flows between Abu Dhabi and Asia by organising high-impact events in international markets to promote Abu Dhabi’s investment opportunities as well as assist HSBC clients in domiciling their regional presence in Abu Dhabi to expand into neighbouring markets.
Commenting on the MoU, Al Olama said, “This collaboration with HSBC underscores ADIO’s commitment to facilitating global partnerships that drive inward investment and foster outbound growth, contributing to Abu Dhabi’s long-term economic transformation. Together, we are paving the way for investors to contribute significantly to Abu Dhabi’s long-term economic transformation by creating a vibrant business ecosystem.”
Al Marzooqi stated, “The UAE is young, ambitious, and rising — and Abu Dhabi’s Falcon Economy has taken centre stage in the nation’s prosperity. There’s rapid growth in capital flows between Asia and the UAE, and with stronger policy links, trade agreements, and liberalisation of capital markets, we see opportunities for businesses on both sides to access capital and new markets.”
HSBC was named UAE’s Best International Bank and Asia’s Best Bank at the Euromoney Awards for Excellence 2024.