Dubai (Union) Richard Godfrey, Global Co-Head of Securities Services at HSBC, said: “The structural reform of the UAE’s new work week system announced in early 2022 that aligns with the workweek regime of the largest capital markets Money in the world in Asia, Europe and the United States has paved the way for more cash flows to the UAE.”
He added during the annual HSBC Middle East Markets and Securities Services Forum: “The changing working days in the UAE align well with global markets and this has been viewed positively by the international community, as it reflects innovative and new thinking on how to integrate Work-life balance in this region as many markets around the world experience new business models and ways of working. With the new change at the weekend, trading volumes are supposed to increase in both the Dubai Financial Market and Abu Dhabi Securities Exchange.”
He stressed that the economic reforms in the Middle East have created conditions for a new increase in monetary liquidity in the region and a reassessment of the prospects for financial markets in the region by global investors.
Richard Godfrey said: “The Middle East continues to offer great investment opportunities, and the pace of economic reforms has been very exceptional. The local markets also reflected that pace through increased market activity and higher growth rates. Billions of dollars have been injected through capital flows into the region’s asset markets from around the world driven by a series of reforms to provide international investors access to these markets, create new hedging instruments, and increase institutional investment. The reforms also resulted in the inclusion of major regional stock markets in the benchmark indices tracked by mutual funds and major pension funds, thereby supporting additional capital inflows in the long term.”
Abdul Fattah Sharaf, CEO of HSBC Bank UAE and Head of International Business for HSBC Bank Middle East Limited, said: “The opportunity for the UAE and the wider region has become very clear and we are focusing on this stage to support corporate and institutional clients. In completing their transactions and carrying out their investment transactions. and meet their banking needs while expanding our market capabilities by providing sustainable financing, smart infrastructure, digital trade and capital flows.”