Dr. Josef Ackermann, Chairman of the Management Board and the Group Executive Committee, concluded today a three-day middle east trip that saw him meet with the some of the region’s key political and financial leadership.
The visit covered the United Arab Emirates (UAE), Qatar and Saudi Arabia. In Qatar, Dr. Ackermann met with the country’s Prime Minister, H.E. Sheikh Hamad Bin Jaber Bin Jassim Al Thani, and the Finance Minister, H.E. Yousef Hussain Kamal, in addition to the governor of the central bank, H.E. Sheikh Abdullah Bin Saud Al Thani, and on-shore and off-shore financial regulators. The discussions focused on the global and regional financial situation, and Qatar’s economic and financial strategy.
Despite the global financial crisis, Qatar has maintained its economic growth of the last several years. Qatari authorities throughout the financial crisis sought to protect the local banking sector with direct investments into domestic banks. GDP rebounded in 2010 largely due to the increase in oil prices.
In the UAE, Dr. Ackermann met H.H. Sheikh Ahmed Bin Saeed Al Maktoum, President of the Department of Civil Aviation, CEO and Chairman of The Emirates Group and Chairman of Dubai World.
A meeting was also held with the Governor of the Dubai International Financial Centre (DIFC), H.E. Ahmed Humaid Al Tayer. During the meeting Dr. Ackermann reiterated Deutsche Bank’s commitment to the MENA region, and the Bank’s regional hub in Dubai, and received an update from H.E. Governor Al Tayer on the future growth plans of the DIFC.
Dr. Ackermann also met senior members of the business community in the UAE. His trip was concluded with a meeting with H.H. Sheikh Hamed Bin Zayed Al Nahyan, the Managing Director and Board Member of the Abu Dhabi Investment Authority (ADIA).
In Saudi Arabia, Dr. Ackermann held meetings with heads of conglomerates and Prince Al Waleed Bin Talal. Deutsche Bank has a branch in the Saudi Capital Riyadh and a subsidiary, Deutsche Securities Saudi Arabia.
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