Financial services at the heart
The UAE-UK financial relationship is built on deep historical foundations pre-dating the UAE’s Union in 1971. British banks were among the first international financial institutions to establish operations in the UAE, creating a foundation for cross-border banking relationships that continue today. Investment quickly started to flow in both directions. The financial centres of Abu Dhabi Global Market and Dubai International Financial Centre were built on a UK model, with English Common Law at their core.
Earlier in May, the Lord Mayor of London visited the UAE with a delegation which included representatives from Howden, Aberdeen, KPMG and Guavapay, a global fintech company. Capital markets and professional services continue to provide a promising area for UK-UAE financial cooperation, with the London Stock Exchange positioned to attract more landmark UAE listings beyond Masdar’s green bonds and ADQ’s multi-billion-dollar offerings. The UAE’s introduction of corporate tax and evolving sustainability requirements increases demand for specialised UK accounting expertise, particularly in ESG reporting and AI-powered financial management.
Both the UK and UAE are leaders in the fintech revolution with British innovators like Smart, Checkout.com, and Wise engaged in modernising banking solutions throughout the Emirates, with the UK’s fintech expertise complementing the UAE’s digital transformation agenda.
H.E. Edward Hobart, British Ambassador to the United Arab Emirates Hobart
