Dubai - 15 April 2012: Dubai International Financial Centre (DIFC), the financial and business hub connecting the region's emerging markets with the developed markets of Europe, Asia and the Americas, announced today that His Excellency Abdul Aziz Al Ghurair has been appointed as Chairman of DIFC Authority Board of Directors by a decision issued by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of DIFC.
HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, President of DIFC, said:
"Abdul Aziz Al Ghurair is one of the founders of UAE's banking industry, and his business acumen is matched by very few in the region. I am confident that his extensive experience will help DIFC successfully execute its strategy, and further strengthen its position as a global hub of business and finance."
Commenting on his appointment, HE Abdul Aziz Al Ghurair, Chairman, DIFC Authority said:
"It gives me great pride to be entrusted by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, to take on this challenging role. Under his leadership, DIFC Authority has taken substantial strides to position DIFC as a global financial hub, and I look forward to working with the board of directors and management team to build on these achievements."
Al Ghurair brings a wealth of knowledge and experience from his current and former appointments on several major boards in the public and private sectors.
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For further inquiries on DIFC, please contact:
Dubai International Financial Centre
Shaima Al Zarouni
PR Manager
Tel: +971 4 362 2432
shaima.alzarouni@difc.ae
About DIFC
The Dubai International Financial Centre (DIFC) is the financial and business hub connecting the region's emerging markets with the developed markets of Europe, Asia and the Americas.
Since its launch in 2004, DIFC, a purposely built financial free zone, has been committed to encouraging economic growth and development in the region through its strong financial and business infrastructure. Currently, DIFC's client base comprises over 800 active registered firms, including 21 of the top 30 global banks, 8 of the top global money managers, 6 of the 10 largest insurers and 6 of the top 10 law firms in the world. More than 12 thousand employees operate in an open environment complemented by international legal and regulatory standards. DIFC offers its member companies benefits such as 100 percent foreign ownership, zero percent tax rate, with no restriction on capital convertibility or profit repatriation. DIFC has its own independent financial and ancillary services regulatory body, the Dubai Financial Services Authority (DFSA). It also has the DIFC Courts, which is an independent common law judiciary based in DIFC with jurisdiction over civil and commercial disputes in or relating to the Centre.
DIFC is built upon a modern legal, regulatory and physical infrastructure which makes it the destination of choice for Financial Services firms establishing a presence in the region.
For further information, please visit our website: www.difc.ae, or follow us on Twitter @DIFC.
Press Release 2012
