Having expanded to Asian financial powerhouse cities like Hong Kong and Shanghai, the National Bank of Canada said it has made its first move to the Middle East office with an office in the Dubai International Financial Centre (DIFC).
This location will serve as a platform to support Canadian clients pursuing business opportunities in the Middle East.
Maninder Sidhu, Canadian Minister of International Trade, made the announcement during an economic mission to the UAE as Canada continues to strengthen its commercial ties through new agreements and initiatives aimed at expanding bilateral trade and investment.
During his visit, Sidhu also indicated that the two countries are expected to start talks on a comprehensive economic partnership agreement (CEPA) next month.
Étienne Dubuc, Executive Vice-President, Capital Markets, commented: “Our Dubai office will enable us to better support Canadian companies with presence and ambitions in the region, while also facilitating investments between the United Arab Emirates and Canada.
“This initiative reflects the growing commercial relationship between our two countries and our commitment to supporting mutually beneficial trade and investment.”
As part of this expansion, Ali Fares, Managing Director and Head, Middle East and North Africa, Capital Markets, has relocated to Dubai to lead the Bank’s regional presence.
“Our presence in Dubai will allow us to strengthen relationships and deliver tailored solutions for clients across both Canada and the UAE. We look forward to fostering opportunities that benefit businesses in both regions,” Ali Fares said.
National Bank of Canada had over CAD577 billion (US$415.5 billion) in assets as at October 31, 2025, and is one of Canada’s six systemically important banks. The Bank has more than 35,000 employees in knowledge-intensive positions and operates three business segments – Personal and Commercial Banking, Wealth Management and Capital Markets.
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