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Why did HSBC Amanah relocate from London to Dubai?

April 26, 2017amanah banker middle east cpi financial Dubai HSBC London Middle East private relocate venture capital

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Why did HSBC Amanah relocate from London to Dubai?

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The reason why we shifted the entire team was because we believe the centre of action now is Dubai. It is well positioned, and is the gateway between Europe, the Middle East, and Asia. We also chose Dubai because HSBC has a regional office here which looks after its businesses in MENA, and we wanted to be close to it. In choosing to base its headquarters in the Middle East, particularly in Dubai, does HSBC Amanah see more opportunities there than in Asia? Definitely. This region is very important to HSBC. As an Islamic hub, Dubai is to the GCC what Malaysia is to the Asia-Pacific region. The increase in oil prices is testament to the wealth in the region. There is also a lot of Sukuk being issued in the region, and a lot global businesses are opening branches or outlets here. Some may say it is logistically easier for them to open in Bahrain or Qatar, but the fact is that the whole region is attractive. Dubai is in the right place at the right time for HSBC Amanah. What is HSBC Amanah’