Dubai International Financial Centre (DIFC), will help neighbouring Abu Dhabi set up its financial district if needed, its chief executive officer has said.
“Our strategy is always to collaborate with Abu Dhabi and the federal authorities,” Abdulla Mohammed Al Awar said in an interview reported on Bloomberg.
“One financial centre is not sufficient for the Middle East, North Africa and South Asia region, and DIFC is prepared to share its experience of operating the centre in the past six years.”
Abu Dhabi’s Mubadala Development Co is creating a new business hub on Sowwah Island, a project that could serve as the emirate’s financial hub. Al Awar’s comments come after DIFC this week announced a “strong” performance for 2010 so far.
Ahmed Humaid Al Tayer, Governor of the DIFC, said: “We have achieved a very encouraging performance so far this year, especially in light of the global economic backdrop.”
Also yesterday, DIFC said it will make a periodic profit distribution on its $1.25-billion Islamic bond on time.
The amount to be repaid for the three-month period to September 13 by Dubai Sukuk Centre is $2.88 million, a statement on Nasdaq Dubai exchange said.
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