Business | Markets
Mohammad renews confidence in DIFC
His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Thursday renewed his confidence in the abilities and efficiency of the staff of Dubai International Financial Centre (DIFC) and Dubai Financial Services Authority (DFSA), the regulatory authority for DIFC.
- WAM
- Published: 22:44 June 4, 2009
- Image Credit: WAM
- Shaikh Mohammad and Shaikh Hamdan with top DIFC officials including David Eldon (third from left) and Abdullah Al Awar (left) the new DIFC Authority chief executive officer.
Dubai: His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Thursday renewed his confidence in the abilities and efficiency of the staff of Dubai International Financial Centre (DIFC) and Dubai Financial Services Authority (DFSA), the regulatory authority for DIFC.
Shaikh Mohammad also urged them to further strengthen the confidence global firms and financial corporations have in the UAE markets in order to maintain the country's status as a global financial and business hub.
Shaikh Mohammed made his remarks as he met chairmen and board members of DIFC and DFSA.
At the meeting in Za'abeel Palace, chairman of DIFC's board of directors David Eldon and chairman of the board of DFSA Abdullah Al Saleh briefed Shaikh Mohammad on the achievements and regulatory services being provided by the two bodies for DIFC-based client financial corporations and banks.
In just four years, over 750 firms have registered at DIFC, the fully-fledged capital market and onshore hub for global finance which bridges the time gap between Hong Kong and London and services a region with the largest untapped emerging market.
DIFC regulates a total of 324 entities: 250 authorised firms, 55 ancillary service providers, 17 registered auditors and two markets.
Present at the meeting were Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai; Shaikh Maktoum Bin Mohammad Bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of DIFC; Shaikh Ahmad Bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority and Chairman and Chief Executive of Emirates airline and Group; Mohammed Al Gergawi, Minister of Cabinet Affairs, Dr Omar Bin Sulaiman, Governor of DIFC and other officials..
More from Markets
More from Business
Business Editor's choice
-
‘Wrong Way' Krugman
The source of our economic malfunction lies with government-mandated bank regulations
-
Greek exit could make Eurozone stronger
Departure will show limits of bailouts and allow remaining members to act much more like a unit
-
UAE upholds values of free trade
Recently released statistics confirm an established fact, namely that of the UAE embracing the free trade principle in general and imports in particular
