Dubai - 12 June 2012: Dubai International Financial Centre (DIFC), the financial and business hub connecting the region's emerging markets with the markets of Asia, Europe and the Americas, adopted its strategy during the Higher Board meeting earlier this week, chaired by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, President of DIFC and Chairman of DIFC's Higher Board of Directors.  The Higher Board members are His Excellency Abdul Aziz Al Ghurair (Vice Chairman), His Excellency Abdulla Mohammed Saleh, Saeb Eigner, Hussain Al Qemzi, Essa Kazim, Abdulfattah Sharaf, Abdullah Ghobash and David Eldon.

The strategy sets out a two-year development programme for each of the bodies of DIFC (DIFC Authority, DFSA and DIFC Courts) together with a set of aligned longer-term objectives. These include greater contribution to Dubai's GDP growth and the Centre's global standing via continued enhancements to the physical, legal, judicial and regulatory infrastructure of DIFC, building on a client-centric approach to facilitate ease of doing business.

Significant emphasis has been placed on further enhancing DIFC's legal and regulatory framework in line with international standards and practices - a feature that has reinforced its position as a global financial centre. Additional focus has also been placed on enhancing relationships with regulators of other financial centres and government bodies within the region and abroad.

H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, President of DIFC and Chairman of DIFC's Higher Board of Directors, said:

"We are pleased with DIFC's emergence as a global financial centre and business hub, and with its sustained growth through the difficult global economic events of recent years. The strategy will not only build on past successes, but also promote the growth and development of financial services and related sectors within DIFC and the UAE economy."

H.E. Abdulla Mohammed Saleh, Governor, DIFC said:

"Our focus remains centred on building the right platform for international organisations to deepen their presence in the region while also providing opportunities for regional firms to access global markets. The two-year strategy will ensure that our three bodies are aligned and continue to provide a dynamic approach to achieving DIFC's and Dubai's long-term vision."

DIFC's Higher Board of Directors was formed in August 2011 following a law issued by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. The Higher Board's aim is to provide stronger support to DIFC's drive to become a global financial centre, complying with the highest levels of good governance and best practices.

© Press Release 2012