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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 Liao Lin, Chairman and Executive Director of Industrial and Commercial Bank of China Ltd. (ICBC), one of the world’s largest commercial banks.
The meeting, held at His Highness The Ruler’s Court in Dubai, discussed opportunities to strengthen cooperation between ICBC and the UAE’s financial sector, leveraging the country’s growing role as a global financial hub and an important base for Chinese institutions expanding across the Middle East, Africa and South Asia (MEASA).
They also reviewed wider prospects for enhancing UAE–China economic and investment ties. Sheikh Maktoum highlighted the strength of the UAE–China comprehensive strategic partnership and the growing role of Chinese financial institutions in Dubai’s financial ecosystem. The discussion explored how Dubai’s position as a gateway for global capital and financial innovation can support shared growth goals.
His Highness further noted that Dubai’s advanced financial infrastructure, strong regulatory framework and supportive business environment continue to enable major international banks such as ICBC to grow their regional operations, serve international clients, and facilitate trade and investment between markets worldwide. He added that Dubai continues to expand its partnerships with leading global financial institutions in line with the Dubai Economic Agenda D33, which aims to double the emirate’s GDP and strengthen its position as one of the world’s top four economic hubs.
ICBC is ranked the world’s largest bank by total assets, according to S&P Global. The state-owned bank offersdiverse services includingcorporate banking, personal banking, financial asset services and treasury operations, serving millions of customers worldwide. In 2024, the bank reported a net profit of RMB366.9 billion and its total assets stood at RMB52.3 trillion ($7.3 trillion) at the end of last year.
Over the last two decades, the bank has steadily expanded its presence in the UAE and the region. ICBC formally commenced the operations of its Dubai International Financial Centre (DIFC) branch in 2013. It has supported key sukuk issuances and provided renminbi financing and multi-currency clearing and settlement services, becoming a vital player in deepening financial links between China and the Middle East.
The meeting was attended byHis Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs; His Excellency Helal Almarri, Director General of the Dubai Department of Economy and Tourism; His Excellency Essa Kazim, Governor of DIFC; and Arif Amiri, Chief Executive Officer, DIFC Authority.
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