Dubai International Financial Centre to collaborate with India-based financial group

The Dubai International Financial Centre (DIFC) and Gujarat International Finance Tec-City (GIFT) recently agreed to cooperate and collaborate in financial activities of mutual interest.

"We are delighted to sign this Memorandum of Understanding [MoU] with GIFT, especially at a time when UAE ties with India are growing ever closer," Arif Amiri, CEO of DIFC, said. "India represents the UAE’s third largest trading partner as well as one of the world’s fastest growing economies, and natural synergies between the two centers exist, which will certainly benefit our respective clients."

DIFC and GIFT will exchange information on banking, financial services, securities, laws and regulations and international financial services trends. The two financial centers will work together to organize seminars, conferences and training as well as an international exchange program for DIFC- and GIFT-based entities.

"We are honored to sign this MoU with DIFC, the leading financial hub located in the MEASA region, and one that we are delighted to become aligned with," Ajay Pandey, GIFT SEZ director and group CEO, said. "We are certain of the mutual benefits that will arise as a result of the agreement, and we look forward to share the benefits with our collective clients operating in the financial services sector and beyond."