Press release
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum meets with CEO of Credit Agricole
Dubai – 30 January, 2014:His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of Dubai International Financial Centre (DIFC), welcomed Jean Paul Chifflet, Chief Executive Officer of Credit Agricole, during ameeting with high level representatives of of Credit Agricole which is based in the DIFC.
During the meeting, His Highness reiteratedthegovernment's commitment to attractinvestmentstothe region and the significant role the Centre has played in contributing to UAE’s economy. His Highness Sheikh Maktoumpraised the steps taken by DIFCto drive the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to establish Dubai as a world-class financial centre. Credit Agricole is one of many international firms choosing DIFC, the pre-eminent financial centre for the region, as a regional base due to its secured legal and regulatory infrastructures providing a safe and secure business environment.
Jean Paul Chifflet, Chief Executive Officer of Credit Agricole, commented:
“Credit Agricole has a long track record in the region that goes back for over 60 years.Two years ago, we decided to move our regional operations to the UAE. We believe that this step has further strengthened our positioning in the region.
We are committed to invest and grow our business in Dubai and to play a vital role in financing key sectors such as aviation, infrastructure and utilities and contribute to the domestic economy
Islamic finance has always been a key focus for our business, and in line with Highness Sheikh Mohammed bin Rashid Al Maktoum’s strategy to position Dubai as an Islamic finance centre, we take pride in supporting this initiative and have a dedicated team based in the Dubai office.”
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Shaima Al Zarouni
Manager – Public Relations
Email:
Tel: +971 50 444 9699
About DIFC
The Dubai International Financial Centre (DIFC) is the financial and business hub connecting the region’s emerging markets with the developed markets of Europe, Asia and the Americas.
Since its launch in 2004, DIFC, a purposely built financial free zone, has been committed to encouraging economic growth and development in the region through its strong financial and business infrastructure. Currently, DIFC's client base comprises over 1,000 active registered firms, including 21 of the world’s top 25 banks, 11 of the top 20 money managers, 6 of the world’s 10 largest insurers, and 6 out of 10 top law firms in the world. Around 15,000 employees operate in an open environment complemented by international legal and regulatory standards.
DIFC offers its member companies benefits such as 100 per cent foreign ownership, zero per cent tax rate, with no restriction on capital convertibility or profit repatriation. DIFC has its own independent financial and ancillary services regulatory body, the Dubai Financial Services Authority (DFSA).
It also has the DIFC Courts, which is an independent common law judiciary based in DIFC with jurisdiction over civil and commercial disputes in or relating to the Centre.
DIFC is built upon a modern legal, regulatory and physical infrastructure, which makes it the destination of choice for Financial Services firms establishing a presence in the region.
For further information, please visit our website: , or follow us on Twitter @DIFC.
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