DBS Group Holdings Ltd. is considering an expansion in Dubai, making Southeast Asia’s biggest lender the latest financial firm to explore scaling up in the Middle Eastern business hub.
“We’re revisiting the thesis that there is real opportunity to do more stuff out of Dubai and this region,” Chief Executive Officer Piyush Gupta said Tuesday in an interview with Yousef Gamal El-Din at the Dubai FinTech Summit. The Singapore-based lender’s presence in the region is limited and “there’s an opportunity to scale it up,” he said.
Gupta’s remarks underscore the growing importance of Dubai, which is emerging as a favored destination for hedge funds and financial firms, drawn by its ease of doing business, tax-free status and its allure as a nexus for global travel.
Hubs like Dubai can act as a neutral player in a multipolar world, being able to intermediate flows from the West and the East, Gupta said.
No comments:
Post a Comment