UAE, UK keen to explore Islamic finance synergies
dubai — The Dubai International Financial Centre (DIFC) and the Dubai Islamic Economy Development Centre (DIEDC) received a delegation on Wednesday from the United Kingdom, led by Alderman Charles Bowman, the new Lord Mayor of the City of London, as part of a wider visit to the region.
Arif Amiri, CEO of DIFC Authority, Charles Bowman and Abdulla Mohammed Al Awar, CEO of the DIEDC, participated in a roundtable that discussed a range of topics, including Islamic trade finance, innovation in Islamic finance and the fintech revolution.
Charles Bowman said: “Over the years, we have established a strong long-term partnership with the DIFC, which has allowed us to facilitate a number of mutually beneficial opportunities. We look forward to further strengthening our existing relationship and exploring synergies in Islamic finance between the City of London and the Centre.”
Amiri said: “Dubai is a dynamic city with a vision to become the capital of the world’s Islamic economy. Developing the regional and global Islamic finance industry has always been one of the DIFC’s key priorities.”
Al Awar highlighted the UAE’s growing importance as a global hub for Islamic finance.
The Dubai Financial Services Authority also hosted Charles Bowman at an event jointly organised with the Institute of Chartered Accountants in England and Wales.
The London mayor also visited the office of Deloitte Middle East where he was briefed about the introduction of Value Added Tax (VAT) in the GCC and its relevance to British businesses in the Gulf region, as well as the impact of VAT on the financial services sector.
— business@khaleejtimes.com