Dubai International Financial Centre (DIFC) has received the ‘International Finance Centre’ award at the WealthBriefing European Awards 2018, reinforcing its position as the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region and one of the world’s top ten financial centres.

The WealthBriefing European Awards are organised by leading media and business intelligence service WealthBriefing, and judged by a panel of trusted industry experts and advisors. These prestigious awards recognise excellence within the wealth management and family office industry. The awards ceremony was held on 26 April 2018 at the City of London’s Guildhall.

Arif Amiri, Chief Executive Office of DIFC Authority, said: “We are delighted to have received this prestigious award – another highlight in DIFC’s track record of success. 2017 was a year of record growth, and we have made great strides towards achieving our 2024 goals in line with Dubai’s dynamic ongoing development. In 2018, we will continue this exciting journey, providing the best-in-class services and infrastructure to our thriving community.”

DIFC offers a highly successful wealth management platform, and recently announced a series of strategic initiatives as part of Dubai’s economy-boosting initiatives, aimed at catalysing economic growth in the emirate and cementing its global status as a competitive business destination. One of these initiatives is expected to increase financial investments in Dubai and boost Dubai’s wealth management capabilities, with 195 Wealth and Assets Management firms currently operating from DIFC.

The Centre has continued to expand and improve its wealth management platform with two new laws enacted in March: the Trust Law, which provides an appropriate environment for the operation of trusts in DIFC, and the Foundations Law, a completely new regime to provide greater certainty and flexibility for private wealth management and charitable institutions in line with international best practice.

These important developments are in line with the recommendations of DIFC’s Wealth Management Working Group and are the product of global benchmarking and extensive consultation with industry professionals and family business networks both regionally and globally.