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The encounter in the UAE capital reviewed prospects for closer collaboration that would lift the performance of the business environment while backing expansion in key economic areas, the Abu Dhabi Media Office reported. Ahmed Jasim Al Zaabi, chairman of the Abu Dhabi Department of Economic Development, joined the session along with Saif Saeed Ghobash, secretary general of the Abu Dhabi Executive Council and chairman of the Office of the Crown Prince. The gathering forms part of Abu Dhabi’s continued drive to reinforce its standing as a regional and global centre for investment and finance.
Citigroup maintains a longstanding footprint in the country that began with the opening of a Dubai branch in 1964 and an Abu Dhabi office in 1971, the bank outlined in its regional overview. The institution now operates as a hub for its Middle East and Africa activities, with a branch at the Abu Dhabi Global Market added in 2018 to support treasury and wealth management services. Citigroup has signalled plans to triple assets under management in the UAE as demand for sophisticated financial products rises across the emirate.
Abu Dhabi’s banking sector has expanded steadily in tandem with the emirate’s broader economic diversification programme, which has attracted substantial foreign direct investment over the past decade. The meeting with Citigroup’s leadership underscores efforts to harness international expertise in developing tailored instruments that address sustainability and operational efficiency, a priority highlighted in multiple government strategy documents. Such partnerships align with the emirate’s objective of building a knowledge-based economy less dependent on hydrocarbons.
Jane Fraser leads one of the world’s largest financial services organisations, which maintains operations in more than 160 countries and territories while serving roughly 200 million customer accounts globally, company disclosures show. The Abu Dhabi discussions focused on practical steps that could improve liquidity management, transaction services and investment channels for both public and private entities. Officials at the meeting emphasised the importance of aligning these initiatives with existing regulatory frameworks managed by the Central Bank of the UAE and the Abu Dhabi Global Market.
The Abu Dhabi Executive Council, chaired by Sheikh Khaled, coordinates policies that govern economic development, infrastructure and public services across the emirate. Recent initiatives have targeted enhancements in digital finance, green bonds and fintech integration to position Abu Dhabi competitively against other Gulf financial centres. The engagement with Citigroup follows a pattern of high-level meetings the Crown Prince has conducted with leaders of major international institutions to advance these goals.
WAM, the official news agency, first circulated details of the meeting, which were subsequently carried by several regional outlets without additional commentary on outcomes or specific agreements reached. No formal joint statement was issued beyond the outline of topics covered, leaving the precise next steps subject to follow-up discussions between technical teams from both sides. The session nevertheless signals continued appetite among global banks to deepen their involvement in Abu Dhabi’s evolving financial landscape.
