DIFC & Path Solutions eye unlimited potential of Asian Islamic financial sector

Notes and media contacts

STRATEGIC PARTNER:

The Dubai International Financial Centre (DIFC) is an onshore capital market designated as a financial free zone designed to create a unique financial services cluster economy for wealth creation initiatives. It is fast becoming the regional gateway for the repatriation of over a trillion dollars of capital and investments which is presently invested outside the region as well as providing opportunities for direct foreign investment into the Middle East.
The DIFC was established as part of the larger vision of HH Sheikh Mohammed and the Government of Dubai to create an environment for growth, progress and economic development in the UAE and the wider region. Integrity, transparency and efficiency are the guiding principles of the DIFC.

In September 2004, the DFSA, the DIFC's independent regulator, started issuing licences to various institutions. These include some of the biggest names in global finance such as Credit Suisse, Julius Baer, Franklin Templeton, Standard Chartered, AIG, Mellon Global, Merrill Lynch, Sovereign Group and International Finance Corporation among others. In just eight months since launch, DIFC has seen over forty firms become either licenced or registered to operate from the centre.

Focusing on six primary sectors - Banking; Capital Markets; Asset Management; Insurance & Reinsurance; Islamic finance and Back Office Operations; the DIFC is beginning to bridge the gap left by the existing capital markets of the East and West and becoming the de facto financial centre for the Middle East Region.So much more than just a financial district, the DIFC is planned to be a 'city within a city' that will comprise a unique integration of buildings and open spaces, with over 65% of the total site landscaped with specific green zones.

GOLD SPONSOR:

Path Solutions is a recognized market leader specialized in the provision of Islamic and Investment software solutions for banks and financial institutions. It has been declared as the Best Selling True Islamic Banking software provider in 2005 by the International Banking Systems. On 20th March 2006 Path Solutions received Sheikh Mohammed Bin Rashid Al Maktoum Award for Global Continuing Contribution to Islamic Finance in IT.
Path Solutions offers a wide range of Islamic, AAOIFI and IAS compliant integrated software solutions covering Core Banking, CSM, Investment Bank, Treasury, Funds Management, and Trading in GCC and global Capital Markets.
Path is a major global developer and supplier of Islamic software products. Path's iMAL Islamic Banking and Investment System is a tailor-made solution to the complex financial industry, based on a modular approach with full integration with other modules.
Path Solutions is a Kuwaiti shareholding company established in 1992, with head quarters in Kuwait and branches in Lebanon and Bahrain.

SILVER SPONSOR:

Unicorn Investment Bank B.S.C. (c) is an Islamic Investment Bank based in Bahrain and is licensed by the Bahrain Monetary Agency. We have representative offices in Chicago, Kuala Lumpur and Kuwait. We offer Shari'ah compliant capital markets products and services and innovative and ethical financial advisory solutions to a broad international client base. Our business lines encompass Corporate Finance & Capital Markets, Mergers & Acquisitions, Asset Management, Private Equity and Takaful. Our services are governed by two essential principles i.e. that they fully comply with Shari'ah principles and that they are benchmarked against international financial best practices.

For more information, please contact:

Nathalie Visele
Director
Shamal Marketing Communications (SMC)
PO Box 24459
Suite 712
The Fairmont Hotel
Sheikh Zayed Road
Dubai
United Arab Emirates
Tel.: +971 50 4576525
Fax: +971 4 3124313