DIFC launches a dedicated website for online applications at Careers UAE 2007

Focus on attracting professionals to financial services industry

Talented UAE nationals can submit online applications at DIFC stand

Dubai, March 12, 2007: The Dubai International Financial Centre (DIFC) announced that it launched a special website, to accept job applications from potential UAE national candidates. This interactive website which has been launched today for Careers UAE 2007 will generate web pages that can be accessed by both the applicant and potential employer.

The website address is: www.difc.ae/careers/working_at_difc/

Speaking at the launch of this website, His Excellency Dr. Omar bin Sulaiman, Governor, DIFC said: "The sustained growth of a nation is clearly linked to the integration of its national human resources into the economy both in the public and private sector. The financial services industry is always on the lookout for talented professionals who can contribute to the growth of this crucial sector. Within the DIFC, we have created an environment conducive to the development of such individuals and provide numerous opportunities for them to grow across a broad spectrum of organizations."

The DIFC is home to more than 348 firms which include some of the worlds leading financial institutions. Among them are Deutsche Bank, Morgan Stanley, Merill Lynch, HSBC, Barclays, Loyds TSB, Mellon Global Investments, AIG, UBS, Goldman Sachs, PriceWaterhouse Coopers and many other leading international, regional and local financial institutions.  The DIFC is working closely with these member companies to achieve, the joint strategic objective of managing   talent, and propelling it in the right direction.

Nabil M Ramadhan, Chief Human Capital Officer, DIFC said: "Through this dedicated website, we offer potential applicants a chance to approach high profile organizations based in the DIFC that are often on the lookout for local talent and expertise. Careers UAE 2007 is the ideal platform to launch this interface as it brings together our national youth from across all emirates."

More than 30 laptops will be available at the DIFC stand within Careers UAE 2007 for potential applicants to submit their applications instantly. Designed in a user-friendly format, the interactive interface enables even first time users to use the system with efficiency, effectiveness, and satisfaction.

This website is a long-term initiative by the Centre, and will be operational even after the conclusion of Careers UAE 2007. Potential candidates from all nationalities interested in applying for jobs at the DIFC or its member companies, can continue to submit applications online from anywhere in the world.

The 7th annual Careers UAE Exhibition is being held at the Dubai International Convention and Exhibition Centre, from 13-15 of March 2007. The exhibition is organized by the Dubai World Trade Centre, in conjunction with TANMIA, Emirates Nationals Development Programme (ENDP), Higher Colleges of Technology, Zayed University and UAE University. Careers UAE is a high-calibre event that enables talented UAE nationals in all fields to meet directly with recruiters and hiring managers from top employers.

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About the DIFC:
The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centers of Hong Kong and London and services a region with the largest untapped emerging market for financial services.

In just under two years, over 348 firms have registered at the DIFC. They operate in an open environment complemented with world-class regulations and standards. The DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards.

The DIFC is made up of the following core bodies:
 
1. The DIFC Authority (DIFCA) - Responsible for the Companies and Security Registries and attracting financial as well as non-financial institutions to set up in the DIFC. The DIFC Authority is also responsible for developing the financial services industry. (www.difc.ae)

2. The Dubai Financial Services Authority (DFSA) - An independent, unitary regulatory authority, responsible for the regulation of all DIFC operations. Its principle-based primary legislation is modeled on that used in London and New York and its regulatory regime operates to standards that meet or exceed those in major financial centers. (www.dfsa.ae)

3. The DIFC Courts - An independent court system set up to uphold the provisions of DIFC laws and regulations, the courts provide comprehensive legal redress in civil and commercial matters within the DIFC. The DIFC Courts system is especially designed to deal with all of sophisticated transactions that will be conducted within DIFC. The DIFC Court laws, based on the common law, not only sets out the jurisdiction of the court but also provides for a dispute resolution services, including arbitration and mediation, thus allowing for the independent administration of justice in the DIFC. ( www.difccourts.ae)

DIFC Investments- The creation of DIFC Investments will result in the allocation to it of all non public administration activities previously carried out by DIFC Authority. This will include amongst other things all commercial and other activities such as the operation and management of any current and future subsidiaries, the development of the centre's investment strategy and relevant policies and any other strategic investments or alliances which will further the goals and objectives of the Dubai International Financial Centre and contribute to the fulfillment of the Centre's vision. Some of the companies and organizations that DIFC Investments owns include:

1. The Dubai International Financial Exchange (DIFX) The DIFX is the region's first international financial exchange for equities, bonds, Islamic products, funds, index products and (subject to regulatory approval) derivatives. The target areas of the DIFX for seeking issuers include the Middle East and North Africa, as well as South Africa, Turkey and the Indian sub-continent. The regulator of the DIFX is the Dubai Financial Services Authority. The DIFX is located in the Dubai International Financial Centre (DIFC) and its owner is the DIFC Authority. (www.difx.ae)

2. Hawkamah- the first Institute for Corporate Governance in the region, has been established in partnership with a group of international institutions, including the Dubai International Financial Centre (DIFC), Organisation for Economic Cooperation and Development (OECD), UAE Ministry of Finance and Industry, Centre for International Private Enterprise (CIPE), International Finance Corporation (IFC), the Union of Arab Banks (UAB), Dubai School of Government (DSG), Young Arab Leaders (YAL), and the Institute of Management Development (IMD). (www.hawkamah.org) .

© Press Release 2007