This week, running from 26th to 30th November 2006, will provide the opportunity for regional and international decision makers and businessmen to focus on key economic issues across the Middle East and North Africa.
Nasser Al Shaali, CEO of DIFC Authority welcomed the launch of the new Conference and Exhibition Centre: "DIFC Week, which will be the opening event at our new Conference and Exhibition Centre, will enable attendees to listen to a variety of experts and interact with counterparts on a range of topics both at a regional and global level.
'Whilst there are many conferences taking place in Dubai throughout the year, we hope that DIFC Week will prove to be a unique annual occasion and we look forward to the DIFC Conference and Exhibition Centre being a key venue for this and many more international and regional events."
Being in the heart of the Gate District and equipped with state-of-the-art technology, the DIFC Conference and Exhibition Centre is a modern contemporary facility suitable for corporate and industry events. The DIFC Conference and Exhibition Centre also has its own dedicated private entrance and valet parking area. The conference hall within the centre can break up to three independent workshop facility rooms. The DIFC Conference and Exhibition Centre has a dedicated hospitality team servicing clients requirements.
DIFC Week will comprise seminars hosted by: Hawkamah the Institute for Corporate Governance; Gulf Venture Capital Association & KPMG; the Financial Times; MEED and Euromoney.
The following conferences will take place in the DIFC Conference Centre:
• 26th - 27th November: Corporate Governance in the Middle East and North Africa Region
A conference on building sound and efficient financial markets and banking systems in the region, hosted by Hawkamah, the Institute for Corporate Governance. Hawkamah is a regional entity whose mission is to assist the countries and companies of the wider MENA region in developing sound and globally well-integrated corporate governance frameworks and practices.
• 28th November: Middle East Private Equity/Venture Capital Activity
A conference focusing on private equity investments and the private equity industry in the GCC. The first annual Private Equity and Venture Capital Report on private equity trends in the Middle East will be launched by the Gulf Venture Capital Association and KPMG.
• 29th November: MEED Infrastructure Finance in the MENA Region
With over US$1 trillion of infrastructure projects planned in the GCC region alone, demand for financing is at an all time high. This conference will discuss the emerging trends and opportunities in this area.
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DIFC Conference and Exhibition Centre opens with DIFC Week
- United Arab Emirates: Sunday, November 26 - 2006 at 16:58
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The Dubai International Financial Centre (DIFC) today announced the inauguration of the DIFC Conference and Exhibition Centre with a week long schedule of conferences, as part of the first DIFC Week.
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Posted by Janeta Novakovic, Assistant News EditorSunday, November 26 - 2006 at 16:58 UAE local time (GMT+4)
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Notes and Media Contacts »
Media enquiries:
Amira Abdulla
Dubai International Financial Centre
Tel: +971 4 362 2433
Shaima Al Zarouni
Dubai International Financial Centre
Tel: +971 4 362 2432
About the DIFC:
The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centers of Hong Kong and London and services a region with the largest untapped emerging market for financial services.
In just under two years, over 285 firms have registered at the DIFC. They operate in an open environment complemented with world-class regulations and standards. The DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards.
The DIFC is made up of the following core bodies:
1. The DIFC Authority (DIFCA) - Responsible for the Companies and Security Registries and attracting financial as well as non-financial institutions to set up in the DIFC. The DIFC Authority is also responsible for developing the financial services industry.
2. The Dubai Financial Services Authority (DFSA) - An independent, unitary regulatory authority, responsible for the regulation of all DIFC operations. Its principle-based primary legislation is modeled on that used in London and New York and its regulatory regime operates to standards that meet or exceed those in major financial centers. (www.dfsa.ae)
3. The DIFC Courts - An independent court system set up to uphold the provisions of DIFC laws and regulations, the courts provide comprehensive legal redress in civil and commercial matters within the DIFC. The DIFC Courts system is especially designed to deal with all of sophisticated transactions that will be conducted within DIFC. The DIFC Court laws, based on the common law, not only sets out the jurisdiction of the court but also provides for a dispute resolution services, including arbitration and mediation, thus allowing for the independent administration of justice in the DIFC. ( www.difccourts.ae)
DIFC Investments- The creation of DIFC Investments will result in the allocation to it of all non public administration activities previously carried out by DIFC Authority. This will include amongst other things all commercial and other activities such as the operation and management of any current and future subsidiaries, the development of the centre's investment strategy and relevant policies and any other strategic investments or alliances which will further the goals and objectives of the Dubai International Financial Centre and contribute to the fulfillment of the Centre's vision. Some of the companies and organizations that DIFC Investments owns include:
1. The Dubai International Financial Exchange (DIFX) The DIFX is the region's first international financial exchange for equities, bonds, Islamic products, funds, index products and (subject to regulatory approval) derivatives. The target areas of the DIFX for seeking issuers include the Middle East and North Africa, as well as South Africa, Turkey and the Indian sub-continent. The regulator of the DIFX is the Dubai Financial Services Authority. The DIFX is located in the Dubai International Financial Centre (DIFC) and its owner is the DIFC Authority. (www.difx.ae)
2. Hawkamah- the first Institute for Corporate Governance in the region, has been established in partnership with a group of international institutions, including the Dubai International Financial Centre (DIFC), Organisation for Economic Cooperation and Development (OECD), UAE Ministry of Finance and Industry, Centre for International Private Enterprise (CIPE), International Finance Corporation (IFC), the Union of Arab Banks (UAB), Dubai School of Government (DSG), Young Arab Leaders (YAL), and the Institute of Management Development (IMD). (www.hawkamah.org).
Amira Abdulla
Dubai International Financial Centre
Tel: +971 4 362 2433
Shaima Al Zarouni
Dubai International Financial Centre
Tel: +971 4 362 2432
About the DIFC:
The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centers of Hong Kong and London and services a region with the largest untapped emerging market for financial services.
In just under two years, over 285 firms have registered at the DIFC. They operate in an open environment complemented with world-class regulations and standards. The DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards.
The DIFC is made up of the following core bodies:
1. The DIFC Authority (DIFCA) - Responsible for the Companies and Security Registries and attracting financial as well as non-financial institutions to set up in the DIFC. The DIFC Authority is also responsible for developing the financial services industry.
2. The Dubai Financial Services Authority (DFSA) - An independent, unitary regulatory authority, responsible for the regulation of all DIFC operations. Its principle-based primary legislation is modeled on that used in London and New York and its regulatory regime operates to standards that meet or exceed those in major financial centers. (www.dfsa.ae)
3. The DIFC Courts - An independent court system set up to uphold the provisions of DIFC laws and regulations, the courts provide comprehensive legal redress in civil and commercial matters within the DIFC. The DIFC Courts system is especially designed to deal with all of sophisticated transactions that will be conducted within DIFC. The DIFC Court laws, based on the common law, not only sets out the jurisdiction of the court but also provides for a dispute resolution services, including arbitration and mediation, thus allowing for the independent administration of justice in the DIFC. ( www.difccourts.ae)
DIFC Investments- The creation of DIFC Investments will result in the allocation to it of all non public administration activities previously carried out by DIFC Authority. This will include amongst other things all commercial and other activities such as the operation and management of any current and future subsidiaries, the development of the centre's investment strategy and relevant policies and any other strategic investments or alliances which will further the goals and objectives of the Dubai International Financial Centre and contribute to the fulfillment of the Centre's vision. Some of the companies and organizations that DIFC Investments owns include:
1. The Dubai International Financial Exchange (DIFX) The DIFX is the region's first international financial exchange for equities, bonds, Islamic products, funds, index products and (subject to regulatory approval) derivatives. The target areas of the DIFX for seeking issuers include the Middle East and North Africa, as well as South Africa, Turkey and the Indian sub-continent. The regulator of the DIFX is the Dubai Financial Services Authority. The DIFX is located in the Dubai International Financial Centre (DIFC) and its owner is the DIFC Authority. (www.difx.ae)
2. Hawkamah- the first Institute for Corporate Governance in the region, has been established in partnership with a group of international institutions, including the Dubai International Financial Centre (DIFC), Organisation for Economic Cooperation and Development (OECD), UAE Ministry of Finance and Industry, Centre for International Private Enterprise (CIPE), International Finance Corporation (IFC), the Union of Arab Banks (UAB), Dubai School of Government (DSG), Young Arab Leaders (YAL), and the Institute of Management Development (IMD). (www.hawkamah.org).
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