DIFC joins global alliance of financial centers

Dubai International Financial Centre (DIFC), a leading global financial center in the Middle East, Africa and South Asia region, has announced that its membership in the World Alliance of International Financial Centers (WAIFC) has been unanimously approved by its board.

WAIFC is a nonprofit association registered in Brussels, Belgium, which represents leading international financial centers, facilitating cooperation and the exchange of best practices. The alliance was established in July 2018 when financial services leaders from around the globe gathered in Paris. Members vary in size and scope of activities, however they can benefit from various levels of cross fertilization, leveraging collective and individual efficiency.

The WAIFC now represents 19 leading international financial centers across four continents. WAIFC members are from city governments, associations and similar institutions developing and promoting their financial centers.

DIFC will use its membership to collaborate with members who represent other global financial centers including London, Frankfurt, Paris, Tokyo and Toronto. As the highest ranked global financial center in the region, DIFC will also be able to share best practices with members who aspire to have comparable stature. Some of these centers are already supported by DIFC through mutual memorandums of understanding.


Source: arabnews.com