Jersey Finance agrees framework for cooperation with DIFC

Posted: 15/11/2021

Jersey FInance and DIFCJersey 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 Jersey and DIFC as international finance centres, the agreement includes a commitment to working together on digital and in-person events, nurturing talent and exchanging ideas and information to enable growth.

The agreement was signed at the DIFC Authority offices, following Jersey Finance’s 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 the DIFC included Arif Amiri, CEO of DIFC Authority, and Salmaan Jaffery, Chief Business Development Officer at DIFC Authority.

Jersey has a longstanding relationship with the United Arab Emirates (UAE) and Dubai. This year marks 15 years since the Jersey Financial Services Commission signed its first agreement with the Dubai Financial Services Authority. 

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.

Arif Amiri commented: “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 Finance CEO Joe Moynihan added: “Our strong partnership with DIFC is the fruit of commitment and hard work from both sides over the past decade. Today that mutually beneficial relationship has put us both in a 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.”

Pictured: Arif Amiri, CEO of DIFC Authority, with Joe Moynihan

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