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With Global Recognition and Customer-Centric Strategy, CBD Backs SME Customers’ Ambitions

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Commercial Bank of Dubai (CBD) is a UAE-based banking and financial services corporation headquartered in Dubai. CBD is ranked as the number one bank in the UAE on the Forbes list of the World’s Best Banks 2022. Othman Ibrahim Bin Hendi, Chief Customer Officer at CBD speaks about the UAE’s banking sector in general and the strategic positioning of CBD in an exclusive interview with The Integrator!

How well do you think small and medium enterprises (SMEs) and large enterprises are supported by UAE banks? Differentiate CBD from the rest?

SMEs are the backbone of the UAE economy, accounting for around 94% of businesses in the country. In recent years, the UAE government has implemented several policies to boost economic growth by enabling businesses and entrepreneurs and increasing their contribution to the economy.

The financial services industry is crucial in helping SMEs navigate a challenging climate. In line with the UAE Government’s focus on SMEs, banks are supporting SMEs by striving to understand their businesses and developing products and services that suit their needs and minimize risk.

Othman Ibrahim Bin Hendi, Chief Customer Officer, CBD

As one of the UAE’s first and most reputed banks, CBD has always differentiated itself from the other competitors by being a bank focused on family-owned and managed businesses across the Emirates in the UAE. Over the years, it has supported numerous SMEs that have later grown with us to become large corporates.

Further, we have partnered with several government entities such as the Dubai Economic Department and Free zones, such as JAFZA, DMCC, DCAA, EFZA, Meydan, and RAKEZ to offer a full suite of products that are specially tailored for the SME segment to fulfill their business requirements and back their ambitions.

With the “Best Technological Innovation in Financial Services” award, CBD has been recognized at Seamless 2022. What innovation did make CBD achieve the award?

The “Best Technological Innovation in Financial Services” award was presented to CBD for its CBD Investr app, which is the first robo-advisory investment solution in the region offered by a bank. The innovative investment app is powered by smart algorithms that actively manage investment portfolios to deliver optimal risk-adjusted performance.

Through the CBD Investr app, customers can conveniently access a globally diversified and personalized portfolio of stocks, bonds, and other asset classes using low-cost exchange-traded funds (ETFs) aligned to investors’ risk profiles.

The app offers customers the option of robo-advisory portfolios or investing on their own through the self-investor option. Robo advisory portfolios are managed by smart algorithms to deliver optimal performance without customers needing to manage and track the markets. The self-investor option allows customers to buy and sell their preferred shares and ETFs in real-time, thus providing a more personal and customized experience.

Tell us about the recent global achievement of CBD of getting included in the Forbes List of the World’s Best Banks 2022

CBD has been named the number one bank in the UAE on the Forbes list of the World’s Best Banks 2022, based on key customer satisfaction metrics including trust, fees, digital services, and financial advice.

The Forbes fourth annual ‘World’s Best Banks’ report, published in conjunction with market research firm Statista, surveyed more than 45,000 customers across 27 countries around the globe for their opinions on their current and former banking relationships.

This global recognition is an affirmation of our customers’ trust in us to back their ambitions, and it also proves the success of our customer-centric strategy.

Elaborate on the performance indicators of the Commercial Bank of Dubai (CBD) and, as one of the longest-established banks, what role does it aim to play in 2022 and beyond?

The bank has delivered a net profit of AED 866 million for the first half of 2022, up 28.1% compared to the first half of 2021. Higher revenue across net interest and other operating income generated a strong increase in net profit. Market interest rates have risen, and solid loan growth resulted in higher revenue in the first half. Whilst the global macro-economic environment is challenging, the outlook for the UAE economy remains positive. The solid return on equity generated internal capital for growth while the bank’s liquidity position remained robust with the advances to stable resources ratio at 89.35% as of 30 June 2022. All capital ratios were well above the minimum regulatory thresholds mandated by the UAE Central Bank.

In 2022, we will continue to be instrumental in driving digital transformation and investing in enhancing technological capability to provide our customers with a best-in-class banking experience. For the first half of 2022, 98% of our wholesale banking transactions were initiated digitally, and we achieved a 102% increase in mobile banking transactions. Our app was rated 4.8 on App Store and 4.7 on Google Play Store.

We will also continue to back our customer’s ambitions by enhancing our products and services to fulfill the evolving needs of our customers and initiate strategic partnerships to support customers in achieving their financial goals.

Backing the nation’s ambitions and supporting the UAE’s Government initiatives is also one of our top priorities, and the launch of the CBD Digital Lab demonstrates that. The CBD Digital Lab is the first initiative by a bank to establish an R&D facility in the DIFC Innovation Hub, which aims to create a collaborative ecosystem in the FinTech sector by fostering innovation and supporting integration between financial institutions and fintech start-ups.

The Digital Lab will not only drive the future of finance and the future economy, but it will position the UAE as one of the world’s most innovative nations and a global hub for innovation and technology. Further, it reaffirms our efforts to become “default digital” and expand infrastructure in financial technology, unlock innovation opportunities, and introduce new and innovative financial products to the market.

How do you evaluate the post-pandemic banking situation in the UAE, and what reformative actions can be expected from banks?

We have recently announced our financial results for the first half of 2022. The positive results that we have achieved indicate that we are in a recovery mode and returning to pre-pandemic profitability levels.

The pandemic has forced banks to evolve and adopt new business models. A bank’s success in the future will be based on its ability to be agile. The landscape of the financial sector is changing dramatically. With technological disruption, the emergence of new entrants, both fintech and digital giants, and constantly evolving customer expectations, organizations are forced to continuously adapt to these changes and deploy an agile organizational model.

At CBD, digital transformation and innovation are fundamental to our ongoing success. We will continue to invest significantly in these areas to ensure we provide our customers with a convenient and seamless banking experience.

Can you tell us more about CBD’s ESG and Sustainability initiatives?

As an organization backing the ambitions of our proud nation, CBD remains committed to operating its business in a sustainable manner, aligning with the UAE’s efforts towards sustainable development, empowering local communities, and preserving the environment.

In 2021, CBD initiated an ESG transformation journey. We have consolidated ongoing and future environmental, social, and governance initiatives under a common ESG Framework governed by an ESG Committee, which is accountable to the CBD Executive Committee.

Our ESG Framework sets out the key initiatives we believe we must undertake as a responsible corporate organization. We firmly believe that every employee in the Bank, and every citizen and organization in the UAE, has a role to play in sustaining our future.

It is an incredible time to be a part of this great nation, particularly as the UAE readies itself to host COP28 in 2023. We are determined to play our part in driving the sustainability agenda and backing the ambitions of the UAE.

Below are some of the key initiatives that we have undertaken:

  • CBD financed a government entity undertaking the development of a 300,000 tons per annum multi-fuel conventional-based Waste-to-Energy (WTE) facility and associated power substation in the UAE. The project will help the Emirate of Sharjah reach its zero-waste-to-landfill targets and help the UAE achieve its goal of diverting 75% of solid waste from landfills.
  • CBD financed a consortium of companies that has been tasked to build and operate the expansion of a major solar park in the UAE. The solar park is one of the world’s largest renewable projects based on an independent power producer (IPP) model.
  • We have already begun reviewing the assets currently on our books. Additionally, we see potential opportunities in green repos and green trade loans. Our green product exploration is further supported by an emphasis on sustainability as part of our employee innovation challenge.
  • We are expanding upon our procurement framework to ensure that we are not only promoting local suppliers but also suppliers who have a demonstrable dedication to the environment.
  • We have reduced our paper consumption by 47%. Additionally, our consumption of plastic water bottles was reduced by 28%.

 

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Vintage Vaults: Dubai’s Premium Safe Deposit Box Facility at Mall of the Emirates

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As UAE residents prepare for summer holidays, international travel and seasonal relocation, Vintage Vaults, Dubai’s premium safe deposit box facility at Mall of the Emirates, is highlighting the importance of secure private vault storage for valuables, documents and high-value personal assets.

From jewellery and luxury watches to family heirlooms, legal documents, precious metals and collectibles, extended periods away from home can heighten concerns around security, accessibility and long-term protection. For residents, expatriates, investors and frequent travellers, secure storage during travel in the UAE has become an increasingly important part of responsible asset protection.

Vintage Vaults provides private safe deposit box rental in Dubai for individuals, families, collectors and business owners seeking a modern, discreet and service-led alternative to conventional safety deposit boxes. Combining advanced security infrastructure with premium client experience, the facility has been designed for clients who value privacy, convenience and peace of mind.

Located within Mall of the Emirates, Vintage Vaults offers client access during mall operating hours, 365 days a year. The facility operates within a 24/7 monitored security environment supported by UL-certified vault infrastructure, biometric authentication, controlled access systems, AI-powered surveillance, CCTV monitoring, motion detection technology and advanced alarm systems. It is also directly connected to Dubai Police and SIRA-linked monitoring systems, further strengthening its security framework.

Clients can choose from seven safe deposit box sizes ranging from XXS to XXL, accommodating a wide variety of assets including jewellery, watches, gold, cash, legal documentation, family archives, artwork and collectibles. Every box comes with complimentary insurance coverage, with protection of up to AED 2 million depending on the selected membership tier.

“Dubai has become home to a growing number of individuals and families who have accumulated significant personal and financial assets over the years,” said Sherif El Haddad, Founder and CEO of Vintage Vaults. “At the same time, we are seeing greater mobility, with people travelling more frequently, spending extended periods abroad, relocating between countries or managing assets across multiple markets. Accordingly, secure storage is becoming an essential part of responsible asset management, particularly during periods when people are away from home.”

Sherif El Haddad, Founder and CEO, Vintage Vaults

Vintage Vaults offers three membership categories — Silver, Gold and Black — providing varying levels of insurance coverage, security features, box access nominees and premium services. Clients also benefit from private consultation and access rooms designed to maintain discretion, alongside a multilingual team trained in security, privacy, client service and asset protection.

For clients requiring additional support, the facility offers premium services including chauffeur arrangements, armoured transportation and bodyguard assistance, creating a comprehensive asset protection ecosystem tailored to high-value holdings.

According to Imran Shoukat Khan, Co-founder and Managing Partner of Vintage Vaults, demand for private vault services is being driven by a broader shift in how residents and expatriates think about protecting their assets.

“Today’s clients expect more than storage. They want confidence that their valuables are protected by robust infrastructure, supported by technology and managed with complete client discretion,” said Imran. “Whether someone is travelling for several weeks, relocating internationally or safeguarding assets for future generations, secure private vault facilities provide essential storage with , protection against theft, damage or loss along with peace of mind.”

The summer season presents a timely opportunity for UAE residents and expats to review how their valuable possessions are stored and protected. For many, a safe deposit box in Dubai offers a practical solution for securing jewellery collections, investment-grade precious metals, luxury watches, important family documents and sentimental heirlooms before extended travel or temporary relocation.

As one of the few independent private safe deposit box operators in the UAE not affiliated with a bank, Vintage Vaults offers a level of discretion, flexibility and service that traditional banking institutions may not provide. By combining advanced security standards, complimentary insurance coverage, flexible storage options and premium client services, Vintage Vaults continues to provide a trusted destination for clients seeking long-term asset protection in one of the world’s most dynamic wealth centres.

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Standard Chartered H2 2026 Global Market Outlook: Navigating Shifting Sands

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Standard Chartered (“the Bank”) Wealth Solutions Chief Investment Office (CIO) has released its Global Market Outlook for the second half of 2026, outlining its investment strategy and key themes as investors navigate a more complex and evolving market environment. The report was launched alongside Global Market Outlook events in Dubai and Abu Dhabi this week, the first of their kind for the Bank regionally for the second half of this year.

The Bank’s CIO expects risky assets to remain supported by a soft-landing macro backdrop, though investors will need to navigate energy prices, equity supply, investor positioning and central bank policy in H2 2026.

For investors in the UAE and wider Middle East, evolving energy dynamics and easing geopolitical risk premiums following the US-Iran interim deal are expected to support sentiment, while stable oil prices and strong regional liquidity continue to underpin investment activity and diversification opportunities.

Against this backdrop, the CIO remains Overweight global equities, with a preference for the US and Asia ex-Japan, alongside selective opportunities in fixed income and alternatives.

Reflecting this stance, the CIO team sees further upside in key asset classes, with a target of 7,950 for the US S&P 500 index and USD 5,100 for gold by mid-2027, underscoring the role of equities as a core growth driver and gold as a strategic portfolio diversifier.

Global equities rose more than 12% year-to-date, supported by strong earnings and AI-driven optimism, despite geopolitical tensions, higher oil prices and elevated bond yields.

While this momentum is expected to extend into H2, investors will need to be more nimble as markets adjust to four key pivot points: energy prices, equity supply, investor positioning and central bank policy.  

In the Middle East, including the UAE, oil market developments remain particularly relevant. While the interim US‑Iran agreement may ease supply constraints and soften prices, the pace of recovery in physical flows and inventory rebuilding is why energy prices are unlikely to immediately return to start-of-year levels, a key factor shaping inflation expectations and investment opportunities.

Ayesha Abbas, Managing Director and Head of Affluent and Wealth Solutions, Europe, Middle East and Africa, and UAE at Standard Chartered, said: “UAE investors are entering the second half of 2026 from a position of strength. The region continues to benefit from supportive liquidity conditions and the stabilisation of oil markets. In this environment, we are seeing strong demand for diversified portfolios that balance growth opportunities in global equities with income strategies such as Emerging Market USD bonds, alongside gold as a strategic hedge. For internationally minded clients in the UAE, staying invested and well-diversified will be key to capturing opportunities as markets evolve.”

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STANDARD CHARTERED H2 2026 GLOBAL MARKET OUTLOOK: NAVIGATING SHIFTING SANDS

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Standard Chartered (“the Bank”) Wealth Solutions Chief Investment Office (CIO) has released its Global Market Outlook for the second half of 2026, outlining its investment strategy and key themes as investors navigate a more complex and evolving market environment. The report was launched alongside Global Market Outlook events in Dubai and Abu Dhabi this week, the first of their kind for the Bank regionally for the second half of this year.

The Bank’s CIO expects risky assets to remain supported by a soft-landing macro backdrop, though investors will need to navigate energy prices, equity supply, investor positioning and central bank policy in H2 2026.

For investors in the UAE and wider Middle East, evolving energy dynamics and easing geopolitical risk premiums following the US-Iran interim deal are expected to support sentiment, while stable oil prices and strong regional liquidity continue to underpin investment activity and diversification opportunities.

Against this backdrop, the CIO remains Overweight global equities, with a preference for the US and Asia ex-Japan, alongside selective opportunities in fixed income and alternatives.

Reflecting this stance, the CIO team sees further upside in key asset classes, with a target of 7,950 for the US S&P 500 index and USD 5,100 for gold by mid-2027, underscoring the role of equities as a core growth driver and gold as a strategic portfolio diversifier.

Global equities rose more than 12% year-to-date, supported by strong earnings and AI-driven optimism, despite geopolitical tensions, higher oil prices and elevated bond yields.

While this momentum is expected to extend into H2, investors will need to be more nimble as markets adjust to four key pivot points: energy prices, equity supply, investor positioning and central bank policy.  

In the Middle East, including the UAE, oil market developments remain particularly relevant. While the interim US‑Iran agreement may ease supply constraints and soften prices, the pace of recovery in physical flows and inventory rebuilding is why energy prices are unlikely to immediately return to start-of-year levels, a key factor shaping inflation expectations and investment opportunities.

Ayesha Abbas, Managing Director and Head of Affluent and Wealth Solutions, Europe, Middle East and Africa, and UAE at Standard Chartered, said: “UAE investors are entering the second half of 2026 from a position of strength. The region continues to benefit from supportive liquidity conditions and the stabilisation of oil markets. In this environment, we are seeing strong demand for diversified portfolios that balance growth opportunities in global equities with income strategies such as Emerging Market USD bonds, alongside gold as a strategic hedge. For internationally minded clients in the UAE, staying invested and well-diversified will be key to capturing opportunities as markets evolve.”

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