Dubai International Financial Centre (DIFC)

Collaboration Between DIFC And DIEDC Set To Launch Islamic #FinTech

Dubai International Financial Centre (DIFC) signed a Memorandum of Understanding (MoU) with Dubai Islamic Economy Development Centre (DIEDC). Earlier this year, DIFC launched FinTech Hive, a 12-week accelerator programme which allows tech start-ups to test and develop FinTech related business ideas. As part of the agreement, the programme will include institutions such as Emirates Islamic Bank, Dubai Islamic Bank, and Abu Dhabi Islamic Bank, to mentor participants in the field of Islamic finance technology. Arif Amiri, CEO of DIFC said this MoU was an important step for FinTech, for the Islamic economy and for FinTech Hive. For his part, Abdulla Mohammed Al Awar, CEO of DIEDC, said FinTech Hive at DIFC will go a long way towards developing segments like mobile banking and payment systems, as well as SME financing.

DIFC home to the first Equity #Crowdfunding platform

Dubai International Financial Centre (DIFC) is home to the first Equity Crowdfunding platform in the region, Eureeca. It is the first multi-regulated global Equity Crowdfunding platform and has over 12,000 investors from 42 countries. It enables entrepreneurs and high growth businesses to raise much needed expansion capital and create new partnerships for growth. The platform's co-founder Chris Thomas said Eureeca creates a corridor of investment opportunities between Europe, the Middle East and Southeast Asia. It recently raised $400,000 in 12 days on its self-funding campaign with the funds being used to fuel Eureeca’s international growth plans and continued development of their product offering.

Islamic lenders take advantage of falling costs

Islamic lending companies from Dubai’s DIFC Investments LLC to Saudi Arabia’s Etihad Etisalat take advantage of falling borrowing costs. As a result, Islamic syndicated lending in Europe, the Middle East and Africa rose to a four-year high this year. Shariah-compliant transactions this year are as high as $8.37 billion (Dh30.74 billion). The largest share belongs to Etihad Etisalat and is worth 10 billion-riyal ($2.67 billion). This year’s lending is over $3 billion higher than last year's.

NASDAQ Dubai and DFSA hold bond and Sukuk listing forum for bankers and lawyers

Dubai Financial Services Authority highlighted the advantages of listing conventional bonds and Sukuk on the region's international exchange, at a forum attended by leading investment banks and law firms.
After the transfer of NASDAQ Dubai's Official List of Securities to the DFSA in October 2011, the event that took place at the Dubai International Financial Centre (DIFC) gave away details of the new listing and admission framework, giving issuers the ability to list debt in a streamlined manner under an aggressive timetable, comparable to listing regimes on other international exchanges.
NASDAQ Dubai is the only exchange in the Middle East that has direct access to Euroclear, an International CSD, supplying an easy transaction process with the NASDAQ Dubai CSD for international and regional investors.

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