Dubai and Singapore are strengthening their positions as two of the world's most influential wealth management hubs, linked by rising capital flows and cross-border investment, according to Bank of Singapore CEO Jason Moo.

Speaking at the Dubai Fintech Summit at Madinat Jumeirah, Moo said the two financial centres are not competitors but complementary gateways connecting Asia, the Middle East and global investors. The session followed opening remarks by DIFC Governor Essa Kazim.

"There is no cannibalisation. There's enough wealth around the world to really be managed in different locations," Moo said. He pointed to Dubai's location between Asia and Europe, the technology and investment ecosystem around DIFC, and growth prospects across the GCC and the Indian subcontinent as key strengths.

Dubai is one of Bank of Singapore's three strategic hubs, alongside Hong Kong and Singapore. Its DIFC branch, which serves clients in the Middle East and Europe, continues to add bankers.

Moo said the bank has seen rising interest from Chinese conglomerates and investors in opportunities in Dubai, and has organised visits to the city for investors and senior financial executives from China, while its DIFC branch provides dedicated Chinese coverage.

(Source: Khaleej Times)