As the international banking subsidiary of Access Bank Plc, the Access Bank UK Limited plays a central role in the Access Bank Group’s ambition to become the world’s most respected African bank. From its headquarters in London, the bank connects customers with markets across Africa, Europe, Asia and the Middle East, combining international expertise with deep knowledge of African markets.

The year was marked by a major strategic milestone: the acquisition of a 76% majority stake in AfrAsia Bank Limited, a leading banking institution in Mauritius. The transaction significantly expanded the bank’s international footprint, and strengthened its ability to facilitate trade and investment across southern Africa and beyond.

Mauritius also provides an important platform at the crossroads of Africa, Asia and international investment markets, further enhancing the Group’s global connectivity.

Commenting on the year’s achievements, Jamie Simmonds, Chief Executive Officer and Managing Director of The Access Bank UK Limited, told the International Finance, “2025 was a defining year in our transformation journey. The acquisition of AfrAsia Bank Limited has strengthened our international platform, and enhanced our ability to support customers across key trade and investment corridors. As we continue to grow, our focus remains on disciplined execution, strong governance, and maintaining the relationship-led approach that has built trust with our customers and partners around the world.”

“As part of our international growth strategy, the bank has established a presence in several key global financial centres, further expanding the Access Group’s footprint in alignment with its global ambitions.The Dubai branch, located in the Dubai International Financial Centre (DIFC), is regulated by the Dubai Financial Services Authority (DFSA), and serves as a gateway connecting Africa with the Middle East and the North Africa region.” he said further.

The Paris branch, regulated by the Autorite de Controle Prudentiel et de Resolution (ACPR), strengthens access to Francophone African markets, and supports trade flows between Europe and Africa.

The Hong Kong branch, regulated by the Hong Kong Monetary Authority (HKMA), facilitates trade corridors into China, and the wider Asian market.

The Malta subsidiary bank, regulated by the Malta Financial Services Authority (MFSA) and the European Central Bank (ECB), provides a strategic European platform, supporting connectivity between Europe and North Africa while strengthening the bank’s resilience following Brexit.

AfrAsia Bank Limited, regulated by the Bank of Mauritius, further extends the Group’s reach into southern Africa, and enhances its ability to support customers across the continent.

This growing international presence was matched by strong financial results. Despite challenging global conditions, The Access Bank UK Limited delivered profit before tax of USD 235.7 million in 2025, compared with USD 173.4 million in the previous year. Total assets reached USD 11.6 billion, reflecting the strength of the enlarged organisation, disciplined execution, and continued investment in sustainable growth.

The bank’s Strategic Business Units also continued to develop throughout the year. Trade Finance remained a cornerstone of its international proposition, supporting businesses, financial institutions, and trade flows across African markets.

The bank further strengthened its role as a trusted partner to financial institutions, with correspondent banking income from new African markets increasing significantly year-on-year.

Across its Strategic Business Units, the bank continued to build momentum. Trade Finance retained its position as the bank’s largest SBU, supporting businesses, financial institutions and cross-border activity across African markets. Commercial Banking maintained its relationship-led approach, with customer deposits increasing to USD 1.75 billion.

Asset Management also continued to grow, with assets under management reaching $602 million as customers sought diversified investment solutions in a changing environment.

Behind this growth is a continued investment in people and capability. Following the AfrAsia Bank Limited acquisition, the organisation grew to more than 830 colleagues globally, creating a truly international workforce connected by a shared purpose and ambition. The bank continues to prioritise employee development, well-being and progression through learning opportunities, professional qualifications, leadership development, and executive education.

This people-centred approach supports the bank’s strong governance culture, and its ability to deliver consistently for customers and stakeholders across jurisdictions. Across London, Dubai, Paris, Hong Kong, Malta and Mauritius, the bank operates within robust regulatory frameworks, with prudent risk management, and operational excellence remaining central to its strategy.

Looking ahead, The Access Bank UK Limited remains focused on seamless integration, disciplined growth and unlocking the full potential of its expanded platform. Africa continues to offer significant opportunities for trade, investment and financial connectivity, and the bank is well positioned to support this evolution over the long term.

Through international expertise, trusted relationships and a growing global network, The Access Bank UK Limited continues to build a stronger future where Africa and the world are more closely connected.

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The consultation, announced through Consultation Paper No. 172 (CP 172), proposes several updates, including clearer guidance on when authorised firms must obtain Islamic finance endorsements, enhanced disclosure requirements for Takaful products, and technical amendments to the DFSA’s Islamic Finance Rules module to provide greater regulatory clarity for firms operating Islamic financial services within the DIFC jurisdiction.

The initiative also aligns with the UAE’s broader strategies focused on expanding its Islamic finance sector, including the UAE Strategy for Islamic Finance and Halal Industry and Dubai’s D33 Economic Agenda. The strategy for Islamic finance and the halal industry, launched in 2025, aims to solidify the Gulf as a major global hub for Sharia-compliant economies by 2031. The framework’s key goals are doubling Islamic banking assets to over AED 2.56 trillion (USD 697 billion) and growing Sukuk listings to over AED 660 billion.

D33 Economic Agenda is a 10-year strategy (2023–2033) launched by UAE PM Sheikh Mohammed bin Rashid Al Maktoum to execute the Middle East nation’s vision of doubling Dubai’s economy to AED 32 trillion, solidifying the urban centre’s position as a top-three global city.

According to DFSA data, the UAE remains one of the leading global markets for Islamic finance, while the DIFC has become one of the world’s largest venues for Sukuk listings, with more than USD 100 billion in outstanding Sukuk issuances.

Charlotte Robins, Managing Director of Policy & Legal at the DFSA, told Emirates News Agency (WAM) that the regulator aims to ensure firms have the clarity needed to operate with confidence as adoption of Islamic finance continues to grow globally.

Among the key proposals under CP 172, the DFSA plans to clarify circumstances where firms presenting products or services as Sharia-compliant would need an Islamic endorsement. Takaful products, on the other hand, will need stronger disclosure requirements, including transparency around fee calculations, surplus-sharing mechanisms, and additional contribution obligations for participants.

“The regulator emphasised that firms distributing Islamic financial products without directly representing them as Sharia-compliant may not require additional endorsements, provided existing client protection obligations are met,” WAM reported.

“Industry participants, authorised firms, advisers, and market institutions are invited to submit comments through the DFSA’s online response platform until June 19, 2026. Following the consultation period, the DFSA will review feedback before finalising potential amendments to the Rulebook,” it added.

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As Gulf countries ⁠diversify their economies away from oil, investing billions in sectors like financial services, hubs ⁠like the Dubai International Financial Centre have ‌been attracting an increasing number of companies. The total number of actively registered firms at the centre stood at around 8,840 ⁠as of the end of December 2025, up 28% from 2024. Active company registrations also increased by 2,525, a rise of 39% from the 2024 tally.

These included 557 wealth and asset management firms, which in recent years have been setting up base or ⁠expanding their footprint in Dubai and neighbouring Abu Dhabi as the UAE attracts high-net-worth individuals, helped by factors such as the relative ease ‍of doing business and low tax status.

“We had a slight uptick in the UK, and that probably has been a reflection of the growth in hedge funds that have been brought from that country,” DIFC Governor Essa Kazim told the media, while speaking about the geographical breakdown of firms at the centre. The Dubai International Financial Centre, meanwhile, is set for an around USD 27 billion expansion to be delivered by 2040, with the hub reaching full capacity, apart from seeking to welcome new firms.

Asked about funding for the project, Kazim said that the Dubai International Financial Centre achieved ⁠a net profit of around USD 400 million in 2025, remarking, “That is really the future cash flow that will contribute to the expansion, together with internal resources as well as a potential return ‌to capital ⁠markets. Definitely, the market is open. In the past, we issued sukuk, and that’s ⁠one possibility.”

In terms of operational profits, DIFC reported record annual results for 2025, posting double-digit growth in company registrations, revenue and net profit. Combined revenues rose 20% to Dhs2.13 billion (USD 580 million) in 2025 from Dhs1.78 billion in 2024, while net profit increased 28% to Dhs1.48 billion from Dhs1.16 billion. Dubai International Financial Centre has remained the region’s largest regulated financial services ecosystem, with 1,052 financial services firms operating in the hub.

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According to a market statement, the newly extended jurisdiction will be ten times the size of the market’s present footprint, making it one of the largest financial centres in the world.

Following the expansion, Abu Dhabi Global Market will have a total area of 1,438 hectares, or 14 million square metres. According to its official website, the Dubai International Financial Centre (DIFC) is around 44 hectares. The move to expand ADGM was decided by UAE Cabinet Resolution 41 for 2023.

According to a statement from Abu Dhabi Global Market, it is a component of the UAE’s economic agenda, which names the financial district of the capital as a vital area for diversification.

“The resolution expands ADGM’s jurisdiction as a Financial Free Zone to Al Reem Island, adjacent to its current home of Al Maryah Island, following increased demand from a wide range of international companies choosing Abu Dhabi as a preferred destination to expand and grow their businesses globally,” the statement said.

A business entity can take advantage of the 0% preferred corporation tax rate on their qualifying income by having a base there, the statement added.

The current ADGM is 95% occupied, and there is demand from foreign businesses looking to set up shop there, according to Ahmed Jasim Al Zaabi, chairman of the Abu Dhabi Department of Economic Development and ADGM.

The market presently has 1,400 operating companies, 5,500 company licences, and 11,000 employees working in ADGM Square, according to the announcement. In the previous year, it had a 56% growth in assets under management and a 30% increase in active licences.

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The MoU was signed by Arif Amiri, CEO of DIFC Authority and Walid Hanna, founder and CEO of MEVP. The agreement was signed with a focus to strengthen the region’s technology-driven business. According to the company Press Release, the MoU will encourage both companies to work closely towards introducing initiatives and regulations to enable an attractive fintech landscape.

DIFC CEO Arif Amiri said MEVP Capital is one of the first Venture Capital Asset Managers licensed by the Dubai Financial Services Authority (DFSA), and has become a significant partner for DIFC. The collaboration between both thecompanies will boost investment activity in Dubai’s Venture Capital. The MoU will establish an opportunity for MEVP ‘to explore co-investment and co-management opportunities in relation to DIFC’s US$ 100mn FinTech fund.’

MEVP CEO Walid Hanna, said: “The significant increase in venture capital funding for start-ups witnessed by the UAE in recent years has further energised young innovators and opened doors for them to convert their ideas to tangible and viable business propositions.” In essence, the fund is devised to drive the growth of fintechs by investing in start-ups, from incubation up to growth stage. This will facilitate entry for fintechs into the MEASA region.

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