Sheikh Maktoum attends the signing ceremony of the MoU. Image Credit: Twitter/@MaktoumMohammed

Dubai: Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, and President of the Dubai International Financial Centre (DIFC), attended the signing of a Memorandum of Understanding (MoU) between the Dubai Chambers’ Dubai Centre for Family Businesses and the DIFC Family Wealth Centre.

The agreement, which seeks to provide support to family businesses and strengthen their global presence, was signed by Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, and Arif Amiri, CEO of DIFC Authority.

The signing ceremony was also attended by Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, and Essa Kazim, Governor of Dubai International Financial Centre.

As part of the agreement, the Dubai Centre for Family Businesses will join forces with the DIFC Family Wealth Centre in areas of training and education, as well as joint events and promotions. The MoU outlines the collaboration between the two entities in defining methods of cooperation with relevant federal and local authorities.

Other areas of cooperation between the DIFC Family Wealth Centre and the Dubai Centre for Family Businesses include access to the Family Office Club to boost global and commercial communications, recommending business structures and models adopted by DIFC for succession planning, as well as adopting certification and accreditation programmes for family business advisors.