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Ba'alawy said:
"DIG has been able to prove its strong presence in the global investment arena through the establishment of a world class investment portfolio combining sector & geographic diversity with attractive growth potential. We are confident that the launch of Dubai Financial will contribute to and reinforce the Group's developing position, particularly since the financial services sector is witnessing record growth rates both at the regional & internationals levels."
Ba'alawy added that: "The launch of the new company comes at an ideal time when the Middle East and Asian economies are expected to grow in excess of 6 per cent annually. This is a very positive forecast and an ideal environment for the development & prosperity of the financial services industry and all other related services such as Islamic Banking, Consumer Finance, Brokerage and Exchanges. This ideally positions DF to take advantage of expansion opportunities identified through the positive findings of the research and analysis conducted prior to the company's launch."
As for the global brokerage and exchange environment, it is undergoing significant transformation over the past couple of years and provides opportunity for consolidation and integration within this sector. Convergence and adequate capitalization have been identified by industry specialists as the key trends in the next five years.
Ba'alawy added that: "DF, through its asset management team, manages a large portfolio invested in the best of breed funds globally. In addition it has joint ventures with key strategic partners in managing funds. Through this launch we have signaled our intention to become a significant force in the global financial services industry and our strategy is to position Dubai Financial as the principal entity mandated to focus its activities in this market."
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Posted by Janeta Novakovic, Assistant News Editor
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