More ADGM action, IHC seals Pakistan acquisition, another Dubai International Chamber office in Asia, and CBUAE rolls out e-KYC

Dubai plants another flag in Southeast Asia

Dubai International Chamber further expanded its global presence with another representative office, this time in Manila, the Philippines, according to Dubai Media Office. The move comes as non-oil trade between the two countries grew 17% y-o-y last year, and as more Philippine firms set up shop under the purview of the Dubai Chamber of Commerce (with a 23.3% increase in 2025).

REMEMBER- The two countries signed a trade and economic partnership agreement in January, covering electrical equipment, financial services, agriculture, and precious metals.

IHC’s Pakistan wager goes through

Abu Dhabi’s International Holding Company (IHC) has sealed its acquisition of a majority stake in Pakistan’s First Women Bank, securing regulatory clearance for the takeover, according to a bourse disclosure (pdf). The move builds on initial moves it made last October via a government-led privatization process. No transaction value has been disclosed.

REFRESHER- IHC plans to recapitalize and rebrand the lender, broadening its mandate beyond women-focused banking toward wider financial inclusion. The strategy includes upgrading core systems, rolling out digital and AI-led capabilities, and investing in talent to support expansion.

Bain Capital is putting down roots in Abu Dhabi

Even with the war reshaping risk across the region, Bain Capital is expanding its presence in the UAE with an office in ADGM, according to a press release (pdf). The US-based private investment firm said its new office will position it closer to regional investors and help support portfolio companies in the Middle East, with a focus on sectors like fintech, healthcare, aviation, and digital infrastructure.

IN CONTEXT- Bain, which cited a “long-term commitment” to the region in the release, is the latest to move in a broader wave of Wall Street and International firms expanding their footprint or reinforcing their presence during the regional conflict. Global private equity Hillhouse Investment Management recently opened an office in ADGM, while Swiss asset manager Finreon set up a representative office in DIFC earlier this week.

CBUAE is going after one of banking’s biggest bottlenecks

The Central Bank of the UAE (CBUAE) is rolling out a nationwide Know Your Customer (e-KYC) platform to cut through repetitive compliance checks and speed up onboarding across the system, according to a press release (pdf). CBUAE has tapped Sweden-based Norbloc AB to build the infrastructure. The bank aims to replace resource-heavy due diligence processes with a single system that financial institutions and fintechs can plug into to automate Know Your Customer and Know Your Business processes.

Local MetiPro snatched up by Hassan Allam Holding in wastewater push

Egypt’s Hassan Allam Holding has acquired MetiPro, the engineering, procurement, and construction (EPC) arm of UAE’s Metito for an undisclosed amount, according to a press release (pdf). The acquisition will set up a “scaled, integrated platform” that boosts the firm’s presence in water and wastewater operations across the region, Africa, Eastern Europe, and the Commonwealth of Independent States, the press release said.

On MetiPro: Established in 1958, MetiPro — otherwise known as Metito Water Projects — specializes in desalination, wastewater treatment, surface water treatment, water reuse, and industrial solutions, according to its website.