HK, Dubai ink financial services partnership

The two markets will support the development of family office hubs, amongst others.

Hong Kong and Dubai have agreed to collaborate on financial services initiatives.

Under the MoU inked by the partners, the two places will work together to transform the family office sector’s landscape and facilitate cross-market connectivity, synergy and opportunities in financial services.

The cities will also collaborate on areas like fintech, virtual assets, and green and sustainable finance.

“This strategic partnership aims to facilitate innovative collaborations between Dubai and Hong Kong, China, encompassing activities such as skill development programs, innovation challenges, research collaboration, and sustainability initiatives,” Dubai’s Department of Economy and Tourism said.

“The MoU enables both parties to harness the expertise of financial regulatory bodies, organisations, institutions, and industry representatives, enhancing cooperation and identifying opportunities for joint efforts. This collaboration will streamline the identification and execution of cooperative activities between the two places,” the department added.