As per the latest news, a Memorandum of Understanding (MoU) has been marked between Jersey Finance and Dubai International Finance Centre (DIFC) Authority, focused on constructing the ways for more coordinated efforts over the upcoming years.
The MoU took place shortly after the signing of a new Bilateral Investment Treaty by the Government of Jersey with the UAE to assist investment transactions between the jurisdictions and to assure investors.
The marking was witnessed by Joe Moynihan, CEO of Jersey Finance; An Kelles, director - GCC and Faizal Bhana, director - Middle East, Africa, and India.
Arif Amiri, CEO of DIFC Authority stated, “Our relationship with Jersey proceeds to develop and the present association is a demonstration of our joint obligation to driving the future of finance and advancement. The association sets up an inclusive framework to provide new approaches for attempting to situate DIFC and Jersey as worldwide business and advancement hubs.”
As per Joe Moynihan, CEO of Jersey Finance, “Jersey has a grounded relationship with the UAE and today our office in the DIFC is the focal center point for us in the GCC locale. Our solid association with the DIFC is the outcome of a genuine responsibility from both sides for over a decade. Today that commonly valuable relationship has put us both in a great position, ready to help the increasingly difficult requirements of investors in Dubai, the more extensive GCC region, and throughout the world.”
This year marks 15 years since Jersey's regulator, the Jersey Financial Services Commission (JFSC), consented to its first arrangement with the Dubai Financial Services Authority, while in 2011 Jersey set up its first office in the UAE and a further agreement was endorsed with the Central Bank of the UAE. In 2018, Jersey turned into the first IFC to have an office inside the DIFC.
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