PR97367

DUBAI, UAE, Aug. 8, 2022 /PRNewswire=KYODO JBN/ --

Dubai International Financial Centre (DIFC), the leading global financial

centre in the Middle East, Africa and South Asia (MEASA) region, announced the

launch of the first Global Family Business and Private Wealth Centre (Centre)

in the region and worldwide.

DIFC is the first financial centre in the world to create a unique offering at

a time when an estimated AED3.67 trillion ($1 trillion) in assets will be

transferred to the next generation in the Middle East during the next decade.

The Centre will bring together global family-owned businesses, ultra-high net

worth individuals (UHNWIs) and Private Wealth in one hub to help preserve and

grow the sector and provide access to a full range of support services to

enable robust legacy and succession planning. The Centre is also expected to

attract family businesses and UHNWIs from the region and globally to establish

a presence in Dubai.

Members will also benefit from being part of the region's largest financial

ecosystem, DIFC's common law framework, legal and regulatory infrastructure and

flexible range of business structures.

His Excellency, Essa Kazim, Governor of DIFC, said: "Aligning with the UAE

Government's commitment to helping family businesses play a prominent role in

our society, DIFC is pleased to be launching the world's first Family Business

and Private Wealth Centre. The UAE has a vast number of family businesses,

owned by citizens and residents who contribute to the country's economy. In the

next decade, those families and others in the Middle East are expected to

transfer AED3.67 trillion to the next generation, which illustrates the urgent

need to provide them with specialist, consolidated support to help them grow."

Dr. Tarek Hajjiri, appointed CEO for the Global Family Business and Private

Wealth Centre, added: "The launch of the Global Family Business and Private

Wealth Centre is another key milestone in the development of DIFC's wealth and

asset management sector. In addition, it embodies DIFC's long-term commitment

to offering quality private wealth management services at par with global

standards. The new Centre will play a unique role in guiding family businesses

in relation to governance, succession, ownership, wealth, family dynamics and

strategy. Our role is crucial to ensure the long-term growth of family

businesses."

For further information: https://www.difc.ae; follow us on LinkedIn

[https://ae.linkedin.com/company/difc]; Twitter

[https://twitter.com/DIFC?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

] @DIFC. 

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Logo - https://mma.prnewswire.com/media/1874040/DIFC_Logo.jpg

Source: DIFC