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New Executive Officer To Help Steer DIFX Through Next Growth Phase

by Lorys Charalambous, Tax-News.com, Cyprus

05 December 2006


The Dubai International Financial Exchange (DIFX) has appointed Hamed Ahmad Ali to the new position of Executive Officer, to further strengthen its successful growth and development as the international exchange serving the region.

Ali has played a key role at the DIFX over the past months as a member of its Executive Committee and as acting Head of the DIFX Academy, the exchange’s training arm, the DIFX said.

He has been both a member of the Executive Team of the Dubai International Financial Centre (DIFC) Authority and the Head of the DIFC Authority’s Project Management Office.

Commenting on the new post, Per E. Larsson, Chief Executive of the DIFX, noted that: “The exchange will benefit enormously from Hamed’s managerial expertise, his experience gained at the DIFC Authority and in other roles in Dubai, and his close connections with the financial and business community.

“This appointment strengthens the DIFX’s management structure as it prepares for its next phase of growth, including more listings and new asset classes.”

Before joining the DIFX, Ali was a Member of Dubai Strategy Development in the government’s Trade and Economy Taskforce. He also worked on key projects in Dubai Internet City and Knowledge Village.

Ali observed:

“The DIFX has enjoyed great success since it opened in September 2005, with 22 securities now listed and 16 regional and international brokers accepted as Members. We have listed significant initial public offerings and have a larger value of listed Sukuk than any other exchange.

“The DIFX welcomes wholesale and retail investors in its listed securities. We aim to strengthen our focus on Islamic finance and introduce new market segments such as structured products, exchange-traded funds and in due course derivatives.”

A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp

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