UAE – Mubasher: Dubai Chambers penned a memorandum of understanding (MoU) with HSBC Bank Middle East Limited to anchor the expansion of local companies into global markets.
The joint agreement aims to enhance the ability of international companies to establish and grow their businesses in Dubai, according to a recent press release.
Under the MoU, the two entities will collaborate to explore banking services for global companies operating in the emirate through Dubai International Chamber’s 32 international representative offices worldwide.
HSBC will provide services, such as global trade finance and local account opening. Meanwhile, Dubai Chambers will support HSBC’s global clients who are interested in investing in Dubai.
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, noted: “The collaboration will contribute to enhancing our efforts to accelerate the growth of companies across diverse sectors and attract global investments to Dubai.”
Stephen Moss, CEO at HSBC MENA and Türkiye, said: “Combining HSBC’s global reach with Dubai Chambers’ local expertise will further accelerate the growth of companies entering in and growing from Dubai.”
Last August, Dubai Chambers joined forces with China Construction Bank (CCB) to support Chinese companies planning to expand in the Dubai market.
