Maktoum chairs DIFC board meeting

Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum chairs the official meeting of the Higher Board of Directors of DIFC (Wam)

Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of Dubai International Financial Centre (DIFC), today chaired the official meeting of the Higher Board of Directors of DIFC, the financial hub for the Middle East, Africa and South Asia.

The meeting was held in the presence of senior board members including Abdul Aziz Al Ghurair, Vice Chairman of the Higher Board; Essa Kazim; Abdullah Ghobash, Hussain Al Qemzi, Abdulfattah Sharaf, David Eldon, Saeb Eigner and Justice Michael Hwang.

The Board reviewed reports submitted by DIFC’s entities, including the DIFC Authority, Dubai Financial Services Authority and Dispute Resolution Authority, in addition to a report on real estate development in the Centre.

The meeting witnessed discussions of DIFC’s achievements and activities during the first half of 2016, plans and projects for the rest of the year and their role in supporting the national economy. These plans come in line with the long-term goals set by DIFC for its various activities.

Sheikh Maktoum bin Mohammed commended the Centre’s entities for their unstinting efforts in developing Dubai and the UAE as a destination of choice for global financial corporations, under the leadership’s vision.

Essa Kazim, Governor, Dubai International Financial Centre, summarised DIFC’s most noteworthy developments during the first half of 2016, including events the financial hub participated in, agreements ratified, and initiatives that contributed to the Centre’s growth.

He reiterated that DIFC, under the directives of Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, is set to attain further achievements and accomplishments over the course of the year and in years to come, given the growth opportunities in emerging regional and global markets.

Commenting on the meeting, Essa Kazim said: “In 2015, DIFC demonstrated significant growth in the number of companies and professionals based in the Centre. Over the last six months, we have continued on this growth trajectory and are well positioned to build on our success. The Dubai International Financial Centre is committed to providing an ideal platform for institutions and international companies to consolidate their presence in the region, while offering regional companies access to global markets.”

Gate Avenue

His Highness reviewed the work progress at the “Gate Avenue” project, which was launched recently by DIFC as part of the Center’s 2024 strategy that aims to cement the sustainable development of DIFC through transferring the financial center district into a dynamic lifestyle epicenter offering all the necessary amenities, which are built at the highest international standards.

The project, which is set to be completed by the end of 2017, extends on an area of 660,000 sqft that contains all the requirements for modern lifestyle for business establishment, entertainment and living.

Meeting with CEO of Standard Chartered Bank

Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum also met today with the newly-appointed CEO of Standard Chartered Bank, Bill Winters, where they discussed a number of topics related to the current affairs and the regional and global economic developments, as well as the eventual impact of the recent political developments on the economic performance in general.

During the meeting, Sheikh Maktoum assured that Dubai strives to offer an ideal investment environment backed by strong legislations, along with sophisticated infrastructure that meet the requirements of international organisations based in Dubai.