Dubai International Financial Centre (DIFC)
The Middle East is enjoying exceptional economic development despite the turmoil in western markets. However, as the global crisis continues, how can the region shield itself from its impact and sustain its prosperity?
| What | |
|---|---|
| When |
23/11/2008/00:00
to 26/11/2008/00:00 |
| Where | Jumeirah Emirates Towers |
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The Dubai International Financial Centre (DIFC) is the world’s fastest-growing financial hub. Launched in 2004, DIFC is ideally located to bridge the gap for a global financial centre in the time zone between London and Hong Kong. A platform for tapping the largest emerging market for financial services, DIFC is today a community of over 600 financial services companies. These include some of the world’s largest financial and banking firms. DIFC’s vision is to shape tomorrow’s financial map as a global gateway for capital and investment. Its mission is to be a catalyst for regional economic growth, development and diversification by positioning the DIFC as a global financial centre.
DIFC has been designed to:
- Attract regional liquidity back into investment opportunities within the region and contribute to its overall economic growth
- Facilitate privatisation in the region and enable initial public offerings for privately owned companies, giving impetus to deregulation and market liberalisation throughout the region
- Create added insurance and reinsurance capacity - 65 per cent of annual premiums are re-insured outside the region
- Develop a global centre for Islamic finance - this is now a $400 billion-plus international market serving large Islamic communities stretching from Malaysia and Indonesia to the United States.