The event looked at the evolution and trends of the corporate treasury sector
Dubai – 19 November 2014: Dubai International Financial Centre (DIFC) recently hosted the Corporate Treasury Evolution and Trends event, at the DIFC Conference Centre. The one day event examined how corporate treasury has gone from transactional to strategic treasury, and how best practice can be applied across the regional industry.
Chirag V Shah, Chief Strategy & Business Development Officer of the Dubai International Financial Centre (DIFC), said: “At the DIFC we are committed to implementing best practice across every sector within the financial and professional services industry. Through this event, we aim to provide our current and prospective corporate treasury clients with the insight and information needed to meet their business goals. We would like to thank our supporters, Standard Chartered Bank and Clifford Chance for their valuable contribution.”
Speakers from the DIFC, Standard Chartered Bank and Clifford Chance examined current treasury trends within the region across technology, risk management, regulation and other sectors. The event, which was aimed at finance and treasury professionals in the Middle East, attracted bankers and those operating in the corporate cash management market.
Tarek Anwar, Senior Executive Officer of Standard Chartered DIFC and Regional Head of Corporate Institutional Clients, MENAP said: “We are very pleased to partner with the DIFC and to jointly raise awareness about the potential growth opportunities that lie in leveraging a corporate treasury centre at the DIFC. At Standard Chartered bank, we have been working closely with our clients in many global locations to set up their regional treasury centres. This includes the DIFC as a gateway to both the Middle East and Africa regions, with superb regulatory, legal and logistical infrastructure.”
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The Dubai International Financial Centre (DIFC) is the financial and business hub connecting the region’s emerging markets with the developed markets of Europe, Asia and the Americas.
Since its launch in 2004, DIFC, a purposely-built financial free zone, has been committed to encouraging economic growth and development in the region through its strong financial and business infrastructure. Currently, DIFC's client base comprises almost 1,113 active registered firms, including 21 of the world’s top 25 banks, seven of the top ten insurers, seven of the top 10 law firms, 11 of the world’s top 20 money managers and seven of the top ten consultant companies in the world. Around 16, 560 employees operate in an open environment complemented by international legal and regulatory standards.
DIFC offers its member companies benefits such as 100 per cent foreign ownership, zero per cent tax rate, with no restriction on capital convertibility or profit repatriation. DIFC has its own independent financial and ancillary services regulatory body, the Dubai Financial Services Authority (DFSA). It also has the DIFC Courts, which is an independent common law judiciary based in DIFC with jurisdiction over civil and commercial disputes in or relating to the Centre.
DIFC is built upon a modern legal, regulatory and physical infrastructure, which makes it the destination of choice for Financial Services firms establishing a presence in the region.
For further information, please visit our website: www.difc.ae , or follow us on Twitter @DIFC.