Abu Dhabi Investment Office names HSBC as preferred international banking partner in Asia
Date
10/10/2024 1:47:31 AM
(MENAFN- Edelman) Abu Dhabi, UAE – 08 October 2024: The Abu Dhabi Investment Office (ADIO), responsible for inward investment and the economic transformation of Abu Dhabi, has announced HSBC Bank Middle East in the UAE as their preferred international banking partner in Asia.
The parties have agreed to collaborate in promoting outbound and inbound business and investment opportunities for the capital and its leading institutions in international markets. The bank will also play a key role in connecting ADIO with opportunities across international markets where HSBC has strong presence, including Europe, the UK and the Americas.
His Excellency Ahmed Jasim Al Zaabi, Chairman of 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, ADIO, and Mohamed Al Marzooqi, Chief Executive, UAE, HSBC.
Through the 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, Badr 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.”
Mohamed Al Marzooqi said: “The UAE is young, ambitious, and rising – and Abu Dhabi’s Falcon Economy has taken centre stage in the nation’s prosperity. With the country’s non-oil growth running at roughly double the global average, Abu Dhabi is diversifying swiftly with abundant investment opportunities. 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’s 160-year heritage in Asia and strong footprint across 17 markets, and over 75-year presence in the UAE, gives us the expertise and reach to help achieve Abu Dhabi’s international goals.”
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