HSBC Launches 10 Local Investment Funds in UAE

British bank HSBC has received approval to open a branch in Dubai and is starting to offer 10 local investment funds to capitalize on one of the world's fastest-growing wealth markets.

British lender starts offering 10 local funds to investors. HSBC joins other institutions like BlackRock and Barclays in the region. The asset management arm of HSBC has received the green light to open a branch in the United Arab Emirates, to tap into one of the world's fastest-growing wealth markets. According to Dizzy Hu, CEO of Asset Management at HSBC for Asia and the Middle East, the bank will begin offering 10 local investment funds to investors through its new Dubai branch. In an interview with Bloomberg TV, she said: "We have a long-term commitment to the Middle East, the region is one of the fastest-growing wealth markets in the world".

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