Standard & Poor's Opens Office in the DIFCPress Release11 Feb 2008 10:57 am
Standard & Poor's today announced the official launch of its first office in the Middle East in the Dubai International Financial Centre (DIFC), underscoring its commitment to fostering the development of deep and efficient capital markets across the region, linking local markets with the global economy, and enhancing transparency for investors.
The office, which will be managed by Jan Willem Plantagie, Standard & Poor's Regional Manager for the Middle East, will offer Gulf financial market participants Standard & Poor's full range of independent research, credit and fund management ratings, and index products that together help them more effectively access capital, manage risk, and develop and manage investment products.
"Gulf companies are increasingly accessing the global capital markets to address their financing requirements and recognise the benefits that Standard & Poor's globally-recognised credit ratings can provide," said Deven Sharma, President of Standard & Poor's. "As the largest provider of credit ratings on conventional debt and Islamic sukuk and takaful, and with a growing array of Shariah-complaint equity indices on offer, Standard & Poor's is well placed to support the growth of the Gulf's debt and equity markets, expand its role as a global hub for financial services, trade and investment, and support the development of Islamic finance beyond its historical boundaries."
Nasser Al Shaali, CEO of the DIFC Authority, said: "As one of the world's foremost providers of independent credit ratings, indices, risk evaluation, investment research and data, Standard & Poor's plays an invaluable role in the global financial arena, providing decision-makers with the intelligence they need to feel confident about their decisions. We are certain that Standard & Poor's will make an invaluable contribution to the unique offering of the DIFC, bringing increased sophistication and greater investor confidence to the regional market, and in turn helping to develop the region's financial landscape."