Dubai - UAE: - Dubai International Financial Centre (DIFC), the leading financial hub in the Middle East, Africa, and South Asia region (MEASA), and the Dubai Islamic Economy Development Centre (DIEDC) received a delegation today from the United Kingdom, led by Alderman Charles Bowman, the new Lord Mayor of the City of London, as part of a wider visit to the region.

Arif Amiri, Chief Executive Officer of DIFC Authority, Alderman Charles Bowman, the Lord Mayor of the City of London and Abdulla Mohammed Al Awar, Chief Executive Officer of the Dubai Islamic Economy Development Centre (DIEDC) participated in a roundtable that discussed a range of topics, including Islamic trade finance, innovation in Islamic finance and the FinTech revolution. The roundtable that was convened by DIFC and DIEDC, aimed to strengthen ties between the UAE and the UK in line with Dubai’s vision to expand the growth of Islamic economy through global collaborations and partnerships.

The discussion, which was moderated by Ashruff Jamall, Partner, Global Head of Islamic Finance, PwC, also tapped into the role of Islamic finance in infrastructure development.

Outlining key objectives from his regional visit, Alderman Charles Bowman said, “Over the years, we have established a strong long-term partnership with DIFC, which has allowed us to facilitate a number of mutually-beneficial opportunities. We look forward to further strengthening our existing relationship and exploring synergies in Islamic finance between the City of London and the Centre.”

In his welcome remarks, Arif Amiri said, “We are proud of our long-lasting relationship with the City of London and DIEDC, and the productive partnerships we have built with both entities over years of collaboration. Dubai is a diverse and dynamic city with a vision to become the capital of the world’s Islamic Economy. Developing the regional and global Islamic finance industry has always been one of DIFC’s key priorities and a fundamental pillar of our 2024 Strategy, which sets out important objectives for our growth.

In comments during the roundtable discussion, Abdulla Mohammed Al Awar highlighted the UAE’s growing importance as a global hub for Islamic finance, supported by the world-class physical and regulatory environment that DIFC as a strategic stakeholder of DIEDC continues to offer and develop. “Since the launch of the initiative, we were convinced that putting in place a global economic system such as that envisioned by His Highness would spark the interest of those seeking sustainable growth and just development. Achieving this vision, no doubt, requires building synergies with countries that boast longstanding experience in the field of Islamic economy. We were positive even back then that the UK, more specifically the City of London, would play a vital role in globalising the principles and culture of Islamic economy through ensuring an enabling environment.”

The latest visit reinforces both the DIFC and the City of London’s commitment to furthering trade and investment links and strengthening the shared long-term bilateral relationship. DIFC also maintains a close relationship with the Dubai Islamic Economy Development Centre (DIEDC), collaborating on the shared ambition to support Dubai’s growth into the global hub for Islamic financial industry.

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About Dubai International Financial Centre
The Dubai International Financial Centre (DIFC) is one of the world’s top ten financial centres, and the leading financial hub for the Middle East, Africa and South Asia.  The Centre provides a world-class platform connecting the region’s markets with the economies of Europe, Asia and the Americas and facilitates growth in South-South trade and investment. An onshore, international financial centre, DIFC offers 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 and 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. This strategy aims to stimulate trade and investment flows along the South-South economic corridor encompassing the Middle East, Africa, Southern Asia and Latin America.

Currently, 1,750 active registered companies operate from the Centre, with a combined workforce of 21,611 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 billion and nominal GDP of US$7.4 trillion.

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

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

Joudi Issa
Brunswick Gulf
Tel: +971 4 446 6270
Email: DIFC@brunswickgroup.com

© Press Release 2017