StanChart HK inks MOU to promote business, dev’t between HK and Dubai

This include promoting the growth of family offices, fintechs, and virtual asset industries.

Standard Chartered Bank Hong Kong has inked a memorandum of understanding (MOU) with the Dubai Department of Economy and Tourism (DET) to jointly promote business growth and development opportunities between Hong Kong and Dubai.

The agreement aims to deepen SCBHK and DET’s cooperation on a range of strategic areas. These include promoting the growth of capital market activities, family offices, asset management, fintech, and virtual asset industries; and developing innovative sustainable and green financing solutions.

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SCBHK and DET will also develop innovative solutions to support trade and commodity financing for imports, exports, and re-exports; and promote incubation and development of start-ups and new technology-based service providers that develop cutting edge technology-based solutions for banking, financial, investment, and capital market transactions.

SCBHK and DET will also set up a joint working group to discuss how to achieve these objectives, the two said in a joint statement.