Dubai – MENA Herald: Dubai International Financial Centre (DIFC), the global financial services hub connecting businesses and financial institutions with emerging markets across the Middle East, Africa & South Asia (MEASA), marked a strong participation at City Week 2016 in London.
Showcasing its unique offering among the world’s financial industry, DIFC explained its distinct proposition to key firms during the leading gathering of global industry members. In addition, the Centre looked to develop stronger links and collaboration opportunities with London, a key international financial centre, with which DIFC already shares a strong and historic relationship.
During the event, Chief Executive Officer of DIFC Authority, Arif Amiri delivered a keynote speech on the nature of the global economy, potential of emerging markets to stimulate economic growth and investment opportunities. Amiri also emphasised the role of financial centres such as DIFC in opening up these markets, highlighting the Centre’s combination of world-class infrastructure, regulatory and legal systems with geographical proximity and cultural links to the MEASA region.
Furthermore, the management of DIFC Authority took part in a number of specialist panel discussions and roundtables on the sidelines of the City Week events. These panels addressed the potential of emerging markets and areas where DIFC has particular expertise.
One of the panels, ‘Disruptive Innovation’ drew the participation of Chief Business Development Officer of DIFC Authority, Salmaan Jaffery. Focusing on ‘Potential for Fintech to Change Current Business Models’, DIFC discussed how it is supporting new financial technologies in areas including Islamic Finance through its integrated ecosystem based on cutting-edge physical infrastructure and regulatory systems.
In another session, the Senior Vice President – Business Development, Ali Hassan of DIFC Authority, touched on the growth potential of India where firms based in DIFC are helping to open up new access and investments in this market. The discussion also focused on the need for infrastructure investment and how Dubai is an important gateway to this market given its combination of regulatory and legal certainty with strong pre-existing business, cultural and social links to this market.
The week also saw a number of successful meetings take place with businesses who are working in the region or considering investing in the region, including an engaging discussion with the asset management industry, a key growth area for DIFC in its 2024 Strategy as it looks to reach US$250bn of assets under management in the coming years. Conversations focused on the recent development of a world-class asset management regime in DIFC.
The visit formed part of a series of roadshows conducted by the DIFC in major growth markets, including China and India.