As per the MoU, DIFC
licensed companies can benefit from special pricing with substantial savings on Global Connectivity Services aimed at attracting global financial customers.
The Association was established to represent the collective interests of members while acting as a forum for the exchange of views on market issues, and contribute to the development of the insurance market at the DIFC
as a specialised centre of excellence, including conducting research work, producing industry reports, and developing market data and statistics.
IA members have elected the first Board of Directors who in turn have appointed Dr Bassel Hindawi as Chairman and CEO of the Association.
Dubai: The first six months of 2015 has seen a dramatic rise in the value of claims filed at DIFC
Courts, reflecting the growing confidence placed in DIFC
and Dubai as a global and regional centre of legal excellence.
Led by Chairman of the National Bank of Kazakhstan Kairat Kelimbetov, a high ranking delegation from the Republic of Kazakhstan comprising senior NBK officials visited DIFC
to confirm the agreement.
Over the last 10 years, Dubai has emerged as the key hub for commerce in the region, and the DIFC
as the preferred destination for businesses and their employees.
This agreement is aimed at promoting the proper utilization of owners' contributions to the owners' association in accordance with DIFC
Strata Title Law, said Jaber Al Suwaidi, the DIFC
Registrar of Real Property after signing the agreement with Samir Sahu, the deputy GM and head of Transaction Banking Services and Sharad Agarwal, the head of trade sales, Factoring & Escrow Services, Transaction Banking Services at Emirates NBD.
There are promising opportunities for significant expansion of DIFC
both in terms of the number of companies operating here and the range of activities in which they are engaged," said the DIFC
The new law results from a consultative and collaborative process between the three DIFC
bodies -- the DIFC
Authority (DIFCA), the Dubai Financial Services Authority (DFSA), and the DIFC
Courts, and various Dubai government bodies, including the Legal Affairs Department of the Government of Dubai.
Per square foot rental prices in the DIFC
vary, officials said, with firms that signed long-term leases ahead of the centre's opening in 2004 paying a fraction of those that signed up before the financial crisis struck, when prices peaked at $200 per square foot.
In this role, Lutfi will look after all business development activities and client-related matters for the DIFC
Expanding the grounds on which authorised firms in the DIFC
canE[pounds sterling] distribute units of foreign funds;