Senior DIFC official speaks to students at Zayed UniversityPress Release12 Jun 2008 01:55 pm
- Dhaher Bin Dhaher outlines DIFC's role in catalysing regional economic and financial growth
The Dubai International Financial Centre (DIFC) today made a presentation to students of Zayed University on its development as a global financial hub and its role in catalysing regional economic and financial growth.
At an event held at the Dubai campus of Zayed University, Dhaher Bin Dhaher, Executive Director of the Ancillary Services Department, DIFC, outlined the vision, goals, achievements and strategic plans of DIFC. The event also saw a presentation by Talat Naseer Head of Human Resources and Omar Syed SVP Investment of Abraaj Capital, one of the region's premier private equity firms.
Bin Dhaher began by speaking about Dubai's macro-economic strategic imperatives that led to the conception of DIFC. He told students and faculty how DIFC has combined world-class regulations and an independent judiciary with high-quality infrastructure and support services to fill the gap for a global financial centre in the time zone between London and Hong Kong. Over the last four years, DIFC has emerged as a gateway to the growing financial market in this region and a key player in the global financial industry.
Bin Dhaher also spoke about the rapid growth of DIFC's financial community. Over 600 companies, including the world's leading financial services companies like UBS, HSBC, Deutsche Bank, Credit Suisse, Merrill Lynch, Citigroup, EFG-Hermes, Barclays and Morgan Stanley, have joined DIFC over the past four years, making it a powerful force for financial industry growth.
Nabil Al Ramadhan, Chief Human Capital Officer of DIFC said: "The presentation was a great opportunity for DIFC to reach out to students of one of the UAE's leading educational institutions. It was also an opportunity for us to talk to the students about the vision of the DIFC and the role it will play in our economic development.
Speaking about the growing career opportunities for graduates in the financial industry, Ramadhan said: "The emergence of new players and the tremendous growth experienced by established regional and global companies in the region has widened the opportunities for graduates in this industry. Joining the financial industry when the sector is entering a new phase of growth will set fresh graduates up for a rewarding career."
DIFC's role in facilitating the growth of various financial sectors in the region, including Islamic Finance, was one of the key focuses of the presentation. Bin Dhaher said that the DIFC has created a regional base for providers of Islamic financial products, including Sukuk that meet the needs of both institutional and individual investors, whose appetite for such products is increasing both in the Muslim world and across the globe.
The DIFC is now planning to offer a new platform for Islamic investment in response to the increasing demand for Sharia-compliant investment products. Later during the event, Abraaj Capital made a presentation that gave students insights into the career opportunities within the financial industry in the UAE, particularly within the private equity sector.
Talat Naseer, Head of Human Resource of Abraaj Capital said: "As a leading player in the private equity sector, Abraaj Capital is strongly committed to the development of the country's human capital. This event at Zayed University was a great opportunity for us to engage in a dialogue with students and give them a greater understanding of the diversity of careers within the financial services industry in the UAE. Interactions between corporate organisations and students of higher education institutions such as this are key to broadening students' career horizons."
Thanking DIFC and Abraaj Capital, Tim Rogmans, Director, Center for Business Excellence College of Business Sciences of Zayed University said: The presentations gave our students key insights into the strategic road map developed by Dubai and DIFC for financial industry development as well as the new career opportunities that are open to them. It was a great opportunity for them to understand more about the mission of one of Dubai's most significant economic initiatives and the larger role it plays in regional development. I am sure that this will inspire many students to consider a career in the financial industry."