Dubai International Financial Centre (DIFC) Joins the World Alliance of International Financial Centers (WAIFC)

BRUSSELS and DUBAI, UAE, March 22, 2021 /PRNewswire/ -- The WAIFC General Meeting unanimously approved the membership of Dubai International Financial Centre. All WAIFC members are very much looking forward to working closely together with DIFC and exchanging best practices.

Commenting on DIFC's membership, Jennifer Reynolds, Chairwoman of the WAIFC, stated:

"We are very pleased to have DIFC join our association. Dubai is a leading global financial center, and DIFC will undoubtedly bring a valued contribution to our initiatives. We are very much looking forward to working with the colleagues in Dubai."

Arif Amiri, CEO of DIFC Authority, commented:

"DIFC is pleased to be joining the World Alliance of International Financial Centres. The Centre is looking forward to representing Dubai and building partnerships with other members so we can be a collective force for good. Together we can make progress on areas such as FinTech, innovation, sustainable finance and developing digital economies. We can align our approaches which will allow us to cohesively drive the future of finance."

Dr. Jochen Biedermann, Managing Director of the WAIFC, added:

"DIFC has been an observer to WAIFC since last year, and we are delighted that it will join WAIFC as a full member now. DIFC has had a phenomenal development: in less than twenty years from its first steps to one of the world's leading financial centers. We are very much looking forward to exchanging best practices and learning from each other."

Dubai International Financial Centre (DIFC) is one of the world's most advanced financial centres, and the leading financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and a nominal GDP of USD 7.7 trillion.

With a 16-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe and the Americas through Dubai.

DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region's largest financial ecosystem of almost 27,000 professionals working across over 2,900 active registered companies – making up the largest and most diverse pool of industry talent in the region.

The Centre's vision is to drive the future of finance. Today, it offers one of the region's most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups.

Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels and public spaces, DIFC continues to be one of Dubai's most sought-after business and lifestyle destinations.

The World Alliance of International Financial Centers (WAIFC) is a non-profit association registered in Belgium, representing 19 leading international financial centers of four continents. WAIFC members are city governments, associations, and similar institutions developing and promoting their financial centers.

WAIFC facilitates cooperation between its members, the exchange of best practices, and communication with the general public.

Contact:

• Tarek Kiwan, DIFC, [email protected], Tel.: +971 4 362 2454
• Jochen Biedermann, WAIFC, [email protected], Tel.: +49 69 94418092

WAIFC's recent publications:

• Supporting SMEs with Sustained Post-Pandemic Economic Recovery
• Innovation and FinTechs in a Post-Pandemic World
• Sustainable Finance in a Post-Pandemic World
• How global financial centers can help combat the COVID-19 pandemic
• The role of financial centers in driving economic growth

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SOURCE World Alliance of International Financial Centers (WAIFC) AISBL