IMF head gains insight into growth opportunities in Dubai's financial services sector in her maiden visit to the Centre

Dubai-UAE: 24 February, 2016

His Excellency Essa Kazim, Governor of Dubai International Financial Centre (DIFC), today welcomed Christine Lagarde, Managing Director of the International Monetary Fund (IMF), His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Supreme Fiscal Committee, and His Excellency Obaid Humaid Al Tayer, Minister of State for Financial Affairs to the DIFC.

During her first visit to the DIFC, Lagarde met with senior officials at the global financial hub and discussed the importance of the financial services sector as a crucial component in the growth and diversification of the UAE's non-oil economy. 

The IMF head attended a presentation that highlighted DIFC's value proposition and its enabling yet robust regulatory environment, in addition to showcasing the unique dynamics of Dubai's financial services industry.

His Excellency Essa Kazim, Governor of Dubai International Financial Centre, said: "We are honoured to welcome Christine Lagarde, one of the most influential financial leaders of our time to DIFC. The visit comes at a point when the UAE has set in motion a new phase of development to move 'beyond petrol'. In line with this objective, DIFC is fully committed to developing the emirate's financial services sector as a core component to realising the goals of Dubai Plan 2021."

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About Dubai International Financial Centre
The Dubai International Financial Centre (DIFC) is the financial hub for the Middle East, Africa and South Asia, providing a world-class platform connecting the region's markets with the economies of Europe, Asia and the Americas. It also facilitates the growth in South-South trade and investment. An onshore, international financial centre, DIFC provides a stable, mature and secure base for financial institutions to develop their wholesale businesses.

The Centre offers all the elements found in the world's most successful financial industry ecosystems, including an independent regulator, an independent judicial system with a common-law framework, a global financial exchange, inspiring architecture, powerful, enabling support services and a vibrant business community. The infrastructure within the district features ultra-modern office space, retail outlets, cafes and restaurants, art galleries, residential apartments, public green areas and hotels.

Located midway between the global financial centres of New York, London in the West and Singapore, Hong Kong in the East, DIFC (GMT +4) fills a vital time-zone gap with a workday that bridges the market and business hours of financial centres in both Asia and North America.

In 2015, DIFC launched its 2024 growth strategy, a blueprint for the next decade of growth of the financial hub. The growth strategy aims to stimulate trade and investment flows along the South-South economic corridor encompassing Africa, Southern Asia and Latin America.

Currently, 1,445 active registered companies operate from the Centre, with a combined workforce of 19,808 professionals.

DIFC continues to pursue expansion into new services and sectors within the Middle East, Africa and South Asia region, an area comprising over 72 countries with an approximate population of 3.0 billion and nominal GDP of US$7.8 trillion.

For further information, please visit our website: www.difc.ae, or follow us on Twitter @DIFC.

For media enquiries, please contact:
Hajar Al Ktebi
Dubai International Financial Centre
Vice President - Public Relations & Corporate Communications
Tel: +971 4 362 2440
Email:    Hajar.Alketbi@difc.ae

Sonali Rekhi
APCO Worldwide
Associate Director
Mobile:   +971 55 6264986
Email:    srekhi@apcoworldwide.com

© Press Release 2016