Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum and Jane Fraser discuss how can Dubai further support the company in promoting its banking operations in the UAE and across the region.
On Tuesday, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, met Jane Fraser, CEO of Citigroup, one of the world’s largest banking and financial services corporations.
During the meeting, which took place at the Emirates Towers, Sheikh Maktoum discussed with Fraser the strong partnership between Dubai and the banking conglomerate that has steadily grown since 1964 when Citibank, a member of Citigroup, opened its first branch in the emirate.
Sheikh Maktoum explored with the Citigroup CEO ways in which Dubai can further support the company in enhancing its banking operations both in the UAE and across the region. He said that Dubai is obliged to provide global banking and financial services companies with a growth-friendly ecosystem, world-class infrastructure, and legislative framework to support them not only to develop their business in the country but also tap vast opportunities in the fast-growing markets of the extended region.
Citi has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions worldwide. The banking giant provides consumers, corporations, governments, and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Citigroup reported a 2021 net income of $22 billion on revenues of $71.9 billion, compared to a net income of $11 billion on revenues of $75.5 billion for 2020.
The meeting was attended by Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs; Helal Saeed Al Marri, director-general of the Department of Economy and Tourism in Dubai; and Arif Amiri, chief executive officer of the Dubai International Financial Centre Authority.
