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Dubai International Financial Centre (DIFC), the leading financial hub in the Middle East, Africa, and South Asia region (MEASA), and the Dubai Islamic Economy Development Centre (DIEDC) received a delegation today 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, Chief Executive Officer of DIFC Authority, Alderman Charles Bowman, the Lord Mayor of the City of London and Abdulla Mohammed Al Awar, Chief Executive Officer of the Dubai Islamic Economy Development Centre (DIEDC) participated in a roundtable that discussed a range of topics, including Islamic trade finance, innovation in Islamic finance and the FinTech revolution. The roundtable that was convened by DIFC and DIEDC, aimed to strengthen ties between the UAE and the UK in line with Dubai’s vision to expand the growth of Islamic economy through global collaborations and partnerships.
The discussion, which was moderated by Ashruff Jamall, Partner, Global Head of Islamic Finance, PwC, also tapped into the role of Islamic finance in infrastructure development.
Outlining key objectives from his regional visit, Alderman Charles Bowman said, “Over the years, we have established a strong long-term partnership with 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.”
In his welcome remarks, Arif Amiri said, “We are proud of our long-lasting relationship with the City of London and DIEDC, and the productive partnerships we have built with both entities over years of collaboration. Dubai is a diverse and 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 DIFC’s key priorities and a fundamental pillar of our 2024 Strategy, which sets out important objectives for our growth.”
In comments during the roundtable discussion, Abdulla Mohammed Al Awar highlighted the UAE’s growing importance as a global hub for Islamic finance, supported by the world-class physical and regulatory environment that DIFC as a strategic stakeholder of DIEDC continues to offer and develop. “Since the launch of the initiative, we were convinced that putting in place a global economic system such as that envisioned by His Highness would spark the interest of those seeking sustainable growth and just development. Achieving this vision, no doubt, requires building synergies with countries that boast longstanding experience in the field of Islamic economy. We were positive even back then that the UK, more specifically the City of London, would play a vital role in globalising the principles and culture of Islamic economy through ensuring an enabling environment.”
The latest visit reinforces both the DIFC and the City of London’s commitment to furthering trade and investment links and strengthening the shared long-term bilateral relationship. DIFC also maintains a close relationship with the Dubai Islamic Economy Development Centre (DIEDC), collaborating on the shared ambition to support Dubai’s growth into the global hub for Islamic financial industry.
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