Jitendra business consultancy provides all information about Dubai international financial center (DIFC).
The Dubai international financial center is one of the fastest growing international financial centers in the world.
Dubai International Financial Centre will primarily focus on five areas of activity in the financial sector: (1) Asset Management (2) Regional Financial Exchange (3) (Re) Insurance (4) Islamic Finance (5) Back-Office Operations.
I) Asset Management
More than a trillion dollars of capital is produced from the province. Many regional retail banks and regional corporations need to engage expert asset management services to manage this capital. To satisfy the need of convenient, professional and competitive expert asset management services of regional retail banks and regional corporations to manage their capital, Dubai government decide to offer more facilities and unique environment for the progress of asset management business to attract the asset manager to set up their business in Dubai international financial center (DIFC).
II) Regional Financial Exchange
In this province, So many giant private sector companies and privatizing government companies are present and like to attract the international investors has the lively sharing of the premier global investment banks by listed on a liquid, visible and efficient exchange. To achieve the aim to create the world-class Regional Financial Exchange, Dubai International Financial Center (DIFC) has builds partnership with a leading financial market. Through this Exchange Dubai government wants to open the doors for the regional investor for the better access to investment from international investment houses. Investors will promote by access the large range of province investment opportunities. This Exchange will provide the best environment and progressive place for the both investor and issuers.
III) RE-INSURANCE
The insurance sector in this province has great chance for the progress. Dubai International Financial Center provide centers for the insurance and re-insurance companies to develop their business and distribution ability by setup their captive management, credit insurance operations and regional insurance at one place in Dubai International Financial Center (DIFC). Dubai International Financial Center likes to become the province center for re-insurance sector.
IV)ISLAMIC FINANCE
The Dubai International Financial Centre (DIFC) is building a new infrastructure to become a global Islamic finance hub, to attract the multi billion dollar international market of Islamic finance products and services.This sector is still not to much developed because of not satisfy products as per the demand of the investors. Also not lack of Islamic finance compliant infrastructure development projects in the province want investment of billions of dollars. Internationally, assets of Islamic financial organizations are expected to be more than $500 billion. Dubai aims to become a center for Islamic investors where Islamic finance organizations will satisfied the need of fund for the infrastructure development projects and regional financing.
V) BACK-OFFICE OPERATIONS
Dubai is perfect place for banks and other financial institutions to establish their back-office operations. Because Of Dubai has world’s finest infrastructure for the IT sector and groups of IT professional people. To attract the Back-Office operations and outsourcing, Dubai International Financial Centre (DIFC) has a partnership with the Dubai Internet City for the purpose of reducing the cost for the both small and large scale bank which wants to start their back-office operation in Dubai.
A part of these five areas, Dubai International Financial Centre (DIFC) is looking to open the other new sectors of Institutional finance and will be the great province area for the global business units of investment banks, wholesale financial institutions, commercial banks and fund management organizations.DIFC will also host professional service providers important to the development of the regional financial sector such as credit rating agencies, professional service firms, law firms and information service providers.
The administration estimates a GDP growth of 10% from the Dubai International Financial Centre (DIFC) operations. |