DUBAI, UAE, March 27, 2012 /PRNewswire/ --
In a fast-changing global environment, practitioners across the financial services spectrum including those in the field of trust and estate planning are always looking for unique and innovative ways to meet their clients' needs.
First Capital of Switzerland Investment Bank (FCSIB) a licensed and regulated entity in the DIFC offering a complete suite of investment banking and wealth management services has strategically positioned itself to provide tailor made solutions for its clients and is capitalizing on the DIFC's confirmed status as an important international financial centre which offers a stable country environment and world class legal and regulatory infrastructure.
"The DIFC which follows the common law enacted Trust law in 2005 after extensive study of existing trust law of jurisdictions around the globe", says Anthony D'Aniello, Group Chief Operating Officer and Head of Wealth Management for FCSIB.
"The Law provides clarity and certainty which gives trust practitioners tremendous flexibility in meeting clients' needs. We at FCSIB offer Personal, Corporate and Charitable Trust services all tailor made for our clients. The structures can be conventional or Sharia Compliant," continuous Mr. D'Aniello.
The Law also forms part of the legislation and service infrastructure at the DIFC designed to serve the needs of families, family business and family offices in the region and beyond. "This is an important focus," adds Mr. D'Aniello, "as historically, most family-run businesses the world over do not survive past the third generation. Ensuring their survival and success is an important way to promote economic growth in the region and the vibrancy of the private sector and we at FCSIB take this very seriously."
FCSIB is also positioning itself as the Trustee of Choice for Expatriate Employee Benefit Trusts in the UAE and surrounding areas. Since no pension legislation exists for non-national expatriate employees in the Gulf, Mr. D'Aniello sees this as an important opportunity in advising FCSIB's corporate clients as he believes that this is a key way to attract and retain skilled expatriate personnel.
"FCSIB is in the process of launching a Charitable Trust which shall be entitled to receive Zakat, charitable donations and voluntary grants from individuals and institutions," states Mr. D'Aniello. "This charitable trust, he continuous, "will be transparent following legal and regulatory international best practices and annual by published audited financial statements."
For more information regarding FCSIB please visit http://www.fcswiss.com
SOURCE First Capital of Switzerland Investment Bank (FCS)