Dubai, 20 November 2008: HE Dr. Omar Bin Sulaiman, Governor of the Dubai International Financial Centre (DIFC) and Vice Chairman of the UAE Central Bank will open DIFC Week, DIFC’s prestigious annual programme of conferences featuring some of the world’s foremost financial and economic leaders, on 23 November, 2008.
Under the theme Sustaining our Oasis of Prosperity in a Turbulent World, DIFC Week 2008, is devoted to discussing regional growth prospects in the light of current global developments.
H.E. Dr. Omar Bin Sulaiman said: “DIFC Week provides a platform for thought leaders from the region and across the world to engage in a discussion on the critical issues determining our region’s future. As developed markets go through a period of financial stress, DIFC Week gives us a chance to discuss strategies for sustaining regional growth. It also gives us a platform for sharing insights and ideas on how we can convert the challenges that the crisis brings into opportunities.”
Apart from HE Dr. Omar Bin Sulaiman, those due to speak at DIFC Week include:
- Dr. Josef Ackermann, Chairman of the Management Board and the Group Executive Committee, Deutsche Bank AG
- H.E. Mohamed Alabbar, Member, Dubai Executive Council and Chairman, Emaar Properties
- HRH Prince Mohammed K A Al Faisal, President and CEO of the Al Faisaliah Group Holding
- Nasser Al Sheikh, Director-General of the Dubai Department of Finance
- Sheikha Hanadi Nasser bin Khaled al-Thani, Deputy Chief Executive Officer of Nasser bin Khaled & Sons and founder of AMWAL
- HRH Nazrin Shah, Crown Prince of Perak State Malaysia;
- Sameer Al Ansari, Executive Chairman and Chief Executive of Dubai International Capital LLC
- Peter Oppenheimer, Partner and Global Strategist at Goldman Sachs
- Professor K.C. Chan, Hong Kong Secretary for Financial Services and the Treasury
- Raja Sidawi, Chairman, Energy Intelligence
- Dr. Kevin W. Lu, Director and Chief Financial Officer, Multilateral Investment Agency, The World Bank Group
- Maria Bartiromo, Anchor, CNBC
DIFC Week opens on 23 November, 2008 with a one-day Summit on family businesses. Key decision makers from leading regional and global family businesses will gather to discuss the issues currently on their minds. What strategies are critical for growth and prosperity during the current economic downturn? What are the internal and external challenges facing family businesses now?
Also part of DIFC Week is the DIFC Forum, to be held from 24 to 25 November. H.E. Mohamed Alabbar will kick off the Forum in his first major public address as the head of the high-level committee set up to help manage the impact of the global financial turmoil on Dubai. In addition, highly interactive sessions will look at critical issues like the economic outlook for the world and the GCC region, the next generation of Islamic Finance, emerging markets in and after the financial crisis, and energy geopolitics in an era of structural change. One of the highlights of the Forum is a session titled “Get the Confidence Back’ moderated by Maria Bartiromo, Anchor, CNBC.
Immediately following the Forum, DIFC Week will feature a conference on 26 November titled: 'The Inside Track on Dubai’. A series of workshops at the conference will discuss the practicalities of establishing operations in Dubai covering legal and regulatory issues, raising capital and understanding the cultural aspects of living and working in the Emirate.
Participation in the Summit is by invitation only to ensure a high-quality environment for business networking. Professional moderators and interactive sessions are expected to facilitate highly productive discussions and debates.
About the DIFC:
The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centres of Hong Kong and London and services a region with the largest untapped emerging market for financial services. In just four years, over 750 firms have registered at the DIFC. They operate in an open environment complemented with world-class regulations and standards. The DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards. (www.difc.ae)
DIFC Week is sponsored by Tharawat, the Arab family business network, Deutsche Bank and Abraaj Capital.
About Deutsche Bank:
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 78,275 employees in 76 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people. Deutsche Bank’s commitment in the MENA region is more than a century old, beginning with the Bank’s financing of the construction of the Baghdad railway. Deutsche Bank opened its first office in Cairo in 1959, followed in the early seventies by an office in Bahrain. In 1999, Deutsche Bank embarked on a regional expansion drive across the GCC which began with the opening of an office in the UAE’s Capital Abu Dhabi in 1999, followed by two offices in Dubai: a representative office inaugurated in 2001 and a branch at the Dubai International Financial Centre (DIFC) in 2005. In April of 2006, Deutsche Bank opened a branch in the Kingdom of Saudi Arabia, in the capital Riyadh. Most recently in November of 2007, Deutsche Bank opened its branch in the Qatar Financial Centre in Doha. Deutsche Bank AG in the MENA region offers the full range of investment banking, asset management; private wealth management; and global transaction banking services. Deutsche Bank’s AG is well recognized for its leading role on some of the most prestigious regional transactions. The Bank is the recipient of several awards for its activities in Islamic Finance; and was proclaimed in 2007 as the Best M&A Bank in Middle East & North Africa by Global Finance World. For more information please visit www.db.com.
About Abraaj Capital:
Based in Dubai, Abraaj Capital is the premier investment firm specialising in private equity investment in the Middle East, North Africa and South Asia (MENASA) region. The management team has brought together some of the most compelling and successful transactions in the history of leveraged acquisitions across the region. With US$5 billion of assets currently under management, Abraaj has pioneered institutionalizing private equity practice in the region and is setting trends and benchmarks for others to follow. Winner of industry awards including 'Middle Eastern Private Equity Firm of the Year’ from Private Equity International (2005, 2006 & 2007), the Banker Middle East Award for 'Best Private Equity House’ in 2006 and for 'Outstanding Contribution to Financial Services’ in 2007 and 'Best Private Equity House’ at the World Private Equity Awards, MENA in 2007 Business recognized Abraaj among the 50 Most Admired Companies in the GCC in 2007. Abraaj is also the first pure private equity firm to be registered by the Dubai Financial Services Authority to operate out of the Dubai International Financial Centre. Apart from managing its five private equity funds, Abraaj Capital Holdings Limited (ACHL) itself is extremely well capitalized, with an issued share capital of US$1 billion. Its 135 professionals come from 27 nationalities and achieve a coverage that spans the MENASA region. For more information please visit www.abraaj.com
About Tharawat Family Business Forum:
The Tharawat Family Business Forum is a network of family-owned enterprises in the Arab World. The organisation provides a platform for the exchange of ideas and experiences on business and management issues related to family businesses in the Arab world. Tharawat’s vision is to become the first-choice networking and mutual-assistance forum for family businesses in the Arab world. Through its network of members, Tharawat aims to encourage collaboration and alliances among family-owned and controlled firms in the region. It provides its members specialised education and helps them leverage business opportunities in the region and beyond. The forum seeks to bring a new focus on the business, social and cultural challenges facing family firms in the region. It promotes and sponsors research that helps advance the sustainable development of family businesses. It also works to raise public awareness of new developments within the family business sector. The Tharawat Family Business Forum has a governance structure designed to guarantee the transparency of its activities and its receptivity to high-quality inputs from both members and external experts. The members of Tharawat constitute an innovative and committed community of family-owned businesses, working together to improve collaboration, business growth, and prosperity.
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