Q. Tell us about Dubai
Branch Officer
Dubai is one of the seven emirates that make up the United Arab Emirates (UAE). Nearly 90% of Dubai's population of approximately 3.5 million are expatriates, more than half of whom are from India. In addition to tax benefits such as no income tax, inheritance tax, or property tax, the safety level, good education, and relaxed visa requirements have led to an influx of people from all over the world.
The Dubai government has recently been proactive in promoting digital technology and crypto assets. This has created an environment suitable for crypto assets and blockchain businesses, accelerating the entry of crypto asset-related companies into Dubai and an inflow of high-net-worth individuals who have built wealth through crypto businesses.
Q. What type of business does Nomura’s Dubai office do?
Branch Officer
Nomura is currently building four businesses (see image). As part of our expansion efforts, we are prioritizing the acquisition of clients in each of those businesses, and collaborating across them to provide services and, where appropriate, referring clients to one another.
With the establishment of Laser Digital (Nomura’s digital asset subsidiary) in 2022 and International Wealth Management (IWM) branch in Dubai in 2023, we are now able to provide our clients with a wide range of investment services, from traditional assets to crypto assets. This is a unique strength that sets Nomura apart from most other financial institutions in Dubai.
Nomura's Middle East Businesses
Q. Why did Nomura establish a branch of IWM in Dubai?
IWM Head
We wanted to be a part of the exciting growth opportunity to offer our IWM and one-bank solutions to clients in Dubai and the Middle East region. We are also actively seeking opportunities to leverage Nomura’s broader capabilities in our Japan home market to provide IWM clients with preferential access to Japan markets and products.
Q. What is your outlook going forward?
IWM Head
The Middle East, Africa, South Asia (MEASA) region is forecast to be one of the fastest growing wealth markets globally. We seek to grow Nomura's IWM business to be among the Top 20 private banks in Asia.
Branch Officer
More than ever, clients in the Middle East are turning their attention to Japan as an investment destination, and we feel strongly that their expectations from Nomura are rising. With this tailwind, we will build up a track record of successful trade executions with our clients to ensure they view Nomura as a trustworthy business partner.
