Bank of Singapore Highlights Dubai and Singapore as Complementary Global Wealth Hubs

Speaking at the Dubai FinTech Summit at Madinat Jumeirah, Bank of Singapore Chief Executive Officer Jason Moo stated that Dubai and Singapore play complementary roles as wealth management hubs rather than competing for the same capital pool, according to Emirates News Agency (WAM).

Moo explained that international investors are increasingly diversifying where their assets are held and managed, creating sustained growth opportunities for both Dubai and Singapore over the coming decade. He identified Dubai as one of the lender's three strategic global hubs alongside Singapore and Hong Kong, supported by its geographical proximity between Europe and Asia and the ecosystem surrounding the Dubai International Financial Centre (DIFC).

The bank reported growing demand from Chinese conglomerates and investors seeking investment and wealth management avenues in Dubai. To facilitate these capital flows, Bank of Singapore has organized delegations to Dubai for investors and senior financial institution executives from China, while maintaining dedicated Chinese coverage teams at its DIFC branch.

Moo noted that two-way investment flows are strengthening, with Middle Eastern clients simultaneously looking to Asia for custody and investment access, especially across the Association of Southeast Asian Nations (ASEAN). The private banking institution draws on parent entity OCBC Group's corporate and banking network across Greater China and ASEAN to facilitate these cross-regional corridors.