The Dubai International Financial Centre launches investment armPress Release 18 Apr 2006 10:59 am
The Dubai International Financial Centre Authority has today announced the launch of a subsidiary called DIFC Investments (Company) LLC (DIFC Investments).
The creation of the new entity will result in the allocation to it of all non public administration activities previously carried out by DIFC Authority. This will include amongst other things all commercial and other activities such as the operation and management of any current and future subsidiaries, the development of the centre’s investment strategy and relevant policies and any other strategic investments or alliances which will further the goals and objectives of the Dubai International Financial Centre and contribute to the fulfillment of the Centre’s vision.
The Dubai International Financial Centre Authority will be primarily concerned with the administration of the non-regulated public service operations of the centre, including the incorporation, registration and licensing of legal entities to operate in and from the DIFC and the issuance and enforcement of municipal regulations governing the conduct of lawful commercial operations and private residency in the DIFC.
Since September 2004, when the Dubai International Financial Centre began operations, it has succeeded in attracting many leading financial institutions and is the world’s fastest growing financial centre.