NBK Capital receives DFSA licence to establish presence in DIFC

Notes and media contacts

About NBK Capital
NBK Capital is the investment and merchant banking subsidiary of National Bank of Kuwait. Established in July, 2005, NBK Capital specializes in investment banking with focus on providing advisory services on mergers and acquisitions as well as debt and equity capital raising. The merchant banking activities of NBK Capital is focused on investing in privately owned companies.

About NBK
NBK was founded in 1952 as the first indigenous bank and the first joint stock company in Kuwait and the Gulf Region. It is by far the largest financial institution in Kuwait with effective market dominance in the commercial banking market. NBK stands out in Kuwait and among Arab banks in terms of its local and international network, which includes branches, subsidiaries and representative offices in New York, London, Paris, Geneva, Lebanon, Amman, Bahrain, Qatar, Saudi, Singapore and China, with other ambitious plans for regional and global expansion. NBK reported record net profits of USD 704 million in 2005, among the highest in the Arab world.

For more information, please contact the Press Office: Ahmed Hafez
P.O. Box 95, Safat 1300, Kuwait. Tel: (965) 2460 168 - Mobile: +965 7881090 - Fax: (965) 2465 190 - www.nbk.com

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
PR
Asda'a Financial Practice
Tel: + 9714 3355969
Mob: 050-5097631; 050-4506911