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DIFC Launches Business Development Subsidiary

by Lorys Charalambous, Tax-News.com, Cyprus

27 October 2008


DIFC Investments, the investment arm of the Dubai International Financial Centre (DIFC), has announced the launch of DIFC Global, a new subsidiary that provides a global network of premium business centres and corporate services that support companies in developing their international business.

Part of the global vision of the Dubai International Financial Centre, which claims to be the world's fastest growing financial hub, DIFC Global provides services that enable companies to make forays into new markets quickly, efficiently and with minimal investment.

DIFC Global is currently in the process of establishing business centres across the world to complement its facilities in the DIFC. It already has a presence in Dubai and London and is looking to set up centres in several other prominent financial hubs around the world.

Dr. Omar Bin Sulaiman, DIFC Governor said: "DIFC Global is an integral part of DIFC's efforts to extend its offerings internationally. As the financial industry in the Middle East grows, more and more global companies are looking to tap lucrative opportunities in the region. Likewise, companies in the region are targeting customers and building partnerships across the world. DIFC Global responds to these needs by providing a supportive infrastructure and services for companies to grow their financial business across the world."

DIFC also announced that Amna Al Sayed has been named CEO of DIFC Global.

HE Dr. Bin Sulaiman said: "Amna's experience in leading the development of DIFC's Business Centre makes her the ideal person to steer the development of DIFC Global's international network. As an organisation that supports financial services companies in expanding into new markets, DIFC Global holds a lot of promise, and I am confident that Amna will lead it to greater success."

Before being appointed CEO, Al Sayed was the Executive Director of DIFC's Business Centre, a role in which she initiated the second phase of the organisation's development including its international expansion. Concurrently, she also held the position of Executive Director of Client Relations in DIFC, a role in which she developed and managed programmes for strengthening relationships with the organisation's clients. Prior to joining the DIFC, Al Sayed served in senior roles in local and international banks like Standard Chartered and First Gulf Bank.

Speaking on her new appointment, Amna Al Sayed said: "I am honoured to assume this new responsibility at a time of exciting growth for DIFC Global. We have a great opportunity to develop DIFC Global into a leading international brand that provides premium corporate environments and business services. The future potential for the organisation is truly outstanding. I look forward to driving new development strategies and leading the team to achieve our objectives".

Support services available to companies located at DIFC Global's business centres include state-of-the-art IT and telecom services combined with administrative, secretarial, event management and hospitality. Other services include the rental of meeting rooms equipped with video and audio conferencing, internet connections, and preferential rates for express courier and office supplies.

In-house legal, payroll and accounting services enable companies to obtain expertise that can otherwise be difficult to source in a foreign market. DIFC Global also facilitates networking opportunities for its members in the DIFC community.


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