Standard Chartered and HSBC are arguably the two foreign banks to have played the most significant role in the emergence of Dubai as a leading financial and commercial centre.
For HSBC, the relationship goes back a long way, via the old British Bank of the Middle East (BBME), which it acquired along with Midland Bank in 1992. BBME can claim a special role in the emirate's commercial history, having provided much of the finance to dredge the Dubai Creek in the 1960s, a crucial element in Dubai's rise.
Standard Chartered (StanChart) has been no less a long-term supporter of the emirate, having had an office there since 1958 and been a key financial partner in many of the projects that transformed Dubai in the boom years up to 2008.
No comments:
Post a Comment