The new appointment reflects the commitment of the Dubai International Financial Centre towards the development of the Islamic Finance industry by involving the leading authorities in the market. The formation of the advisory council in last December was followed by tremendous response by industry stakeholders
Dr Omar Bin Sulaiman, Director General of DIFC Authority, welcoming the new member, said: "It is our privilege to have Hussein Mohammad Al Meeza on our advisory council. He has long years of experience in the industry and we look forward to setting new precedents in the Islamic Finance sector."
Hussein Mohammed Al Meeza, is a veteran in the Islamic Finance industry. He joins the six-member council which includes Saad Abdul Razak, CEO Dubai Islamic Bank, Hussain Al Qemzi, CEO Sharjah Islamic Bank, Aref A. Al Kooheji, EVP, Dubai Islamic Bank, Mohasin A Nathani, MD & CEO, Citi Islamic Investment Bank E.C, Eqbal Khan, CEO HSBC Amana Finance, and Abdul Wahid Al Ulama, Legal Consultant and Advocate, Al Tamimi & Co.
The DIFC Islamic Finance Advisory Council plays a key role in providing strategic advice on Islamic Finance and helping in the development of the industry in general and within DIFC in particular. The council members, who are key executives and players in the industry, provide their expertise and insights on the Islamic Finance industry and marketplace as well as forecast future trends, highlight the impact of the legal and regulatory initiatives locally and internationally on the Islamic Finance market within the DIFC.
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Hussein Al Mezza joins DIFC Islamic Finance Advisory Council
- United Arab Emirates: Monday, January 30 - 2006 at 16:46
- PRESS RELEASE
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Hussein Mohammad Al Mezza joins the Dubai International Financial Centre's Islamic Finance Advisory Council.
Hussein Mohammad Al Mezza joins the Dubai International Financial Centre's Islamic Finance Advisory Council.
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Posted by Lara Lynn Golden, News EditorMonday, January 30 - 2006 at 16:46 UAE local time (GMT+4)
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Biography: Hussein Mohammad Al Meeza began his career at Dubai Islamic Bank in 1975 after graduating from the Arab University in Beirut. During his 27 years tenure at Dubai Islamic Bank he held several senior positions with different departments, including a spell as manager of the first branch in Dubai. Shortly after this he became the acting general manager.
In the last two decades, Hussein served on the board of several companies including Emaar Properties. He was also the chairman of the Liquidity Management Centre in Bahrain. He is currently on the board of Amlak Finance, Al Salam Bank and Dubai Islamic Insurance and Re-insurance (AMAN) where he also holds the position of its managing director
About the DIFC: The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centres of Hong Kong and London and services a region with the largest untapped emerging market for financial services.
In just over one year, more than a hundred top international institutions have joined the DIFC as members. 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. (www.difc.ae)
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 modelled on that used in London and New York, and its regulatory regime operates to standards that meet or exceed those in major financial centres. (www.dfsa.ae)
3. The Dubai International Financial Exchange (DIFX) - A liquid and transparent electronic market trading securities, bonds and derivatives, launched in September 2005, the DIFX eases access to regional and international investment opportunities and funds. (www.difx.ae )
4. 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 laws, enacted by His Highness Sheikh Maktoum bin Rashid Al Maktoum, UAE Vice President and Prime Minister, and Ruler of Dubai, provide for a new court system designed especially for the DIFC and the sophisticated transactions that will be conducted within it.
• The law establishing the Judicial Authority at the DIFC creates and sets out the jurisdiction of the court and provides for a dispute resolution services, including arbitration and mediation, thus allowing for the independent administration of justice in the DIFC; and
• The DIFC Courts Law sets out the jurisdiction, powers, procedures, functions and administration of the court. ( www.difccourts.ae )
For further information contact:
Amira Abdulla
PR Manager, DIFC
Tel: +971 4 362 2433
Tim Harrison/Lavina Chatterjee
Asda'a Financial Practice
Tel: + 9714 3355969
In the last two decades, Hussein served on the board of several companies including Emaar Properties. He was also the chairman of the Liquidity Management Centre in Bahrain. He is currently on the board of Amlak Finance, Al Salam Bank and Dubai Islamic Insurance and Re-insurance (AMAN) where he also holds the position of its managing director
About the DIFC: The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centres of Hong Kong and London and services a region with the largest untapped emerging market for financial services.
In just over one year, more than a hundred top international institutions have joined the DIFC as members. 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. (www.difc.ae)
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 modelled on that used in London and New York, and its regulatory regime operates to standards that meet or exceed those in major financial centres. (www.dfsa.ae)
3. The Dubai International Financial Exchange (DIFX) - A liquid and transparent electronic market trading securities, bonds and derivatives, launched in September 2005, the DIFX eases access to regional and international investment opportunities and funds. (www.difx.ae )
4. 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 laws, enacted by His Highness Sheikh Maktoum bin Rashid Al Maktoum, UAE Vice President and Prime Minister, and Ruler of Dubai, provide for a new court system designed especially for the DIFC and the sophisticated transactions that will be conducted within it.
• The law establishing the Judicial Authority at the DIFC creates and sets out the jurisdiction of the court and provides for a dispute resolution services, including arbitration and mediation, thus allowing for the independent administration of justice in the DIFC; and
• The DIFC Courts Law sets out the jurisdiction, powers, procedures, functions and administration of the court. ( www.difccourts.ae )
For further information contact:
Amira Abdulla
PR Manager, DIFC
Tel: +971 4 362 2433
Tim Harrison/Lavina Chatterjee
Asda'a Financial Practice
Tel: + 9714 3355969
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