Jersey Finance has signed an agreement with the Dubai International Financial Centre (DIFC) Authority, paving the way for closer collaboration over the coming years.
Outlining a framework for greater cooperation to support the evolution of both Jersey and DIFC as international finance centres (IFCs), the agreement includes a commitment to working together on digital and in-person events and to nurturing talent and exchanging ideas and information to enable their growth as IFCs.
The agreement was signed at the DIFC Authority offices, following Jersey Finance’s flagship event in Dubai on 9 November, ‘Jersey and the GCC: an enduring partnership in the Gulf’. The signing was attended by Joe Moynihan, CEO of Jersey Finance, An Kelles, Director – GCC, Jersey Finance and Faizal Bhana, Director, Middle East, Africa and India, Jersey Finance. Representatives from DIFC included Arif Amiri, CEO of DIFC Authority and Salmaan Jaffery, Chief Business Development Officer at DIFC Authority.
Jersey has a long-standing relationship with the United Arab Emirates (UAE) and Dubai. This year marks 15 years since the Jersey Financial Services Commission (JFSC) signed its first agreement with the Dubai Financial Services Authority (DFSA), whilst in 2011 Jersey set up its first office in the UAE and a further agreement was signed with the Central Bank of the UAE. In 2018, Jersey became the first IFC to have an office within DIFC.
Commenting on the new agreement, Arif Amiri, CEO of DIFC Authority, said:
“Our relationship with Jersey continues to grow and today’s partnership is testament to our joint commitment to driving the future of finance and innovation. As we embark on a new phase of growth and development, we are committed to working collaboratively with Jersey to create an environment where businesses can thrive, ultimately enabling our collective success. The agreement puts in place a comprehensive framework to facilitate new ways of working to position DIFC and Jersey as global business and innovation hubs.”
“Jersey has a well-established relationship with the UAE and today our office in DIFC is our central hub for us in the GCC region. Our strong partnership with DIFC is the fruit of a real commitment and a lot of hard work from both sides over the past decade. Today that mutually beneficial relationship has put us both in a really good position right at the front of global finance, able to support the increasingly complex needs of investors in Dubai, the wider GCC region and around the world. This agreement is a reflection of that evolving and hugely positive relationship.”