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DIFC, City Of London Discuss Islamic Finance

by Jason Gorringe, Lowtax.net, London
14 December, 2017

The Dubai International Financial Centre, the low-tax financial center in the United Arab Emirates, has hosted the City of London's Lord Mayor, Charles Bowman, during his visit to the region.

Bowman participated in a roundtable with representatives from the DIFC and the Dubai Islamic Economy Development Centre, which promotes the emirate as a global hub for Islamic financial services. A range of topics were discussed, including Islamic trade finance, innovation in Islamic finance, and the FinTech revolution.

The discussion, moderated by Ashruff Jamall, Partner, Global Head of Islamic Finance, PwC, also tapped into the role of Islamic finance in infrastructure development.

The DIFC says the latest visit by Bowman reinforces the long-term bilateral relationship between the two financial centers, and their shared commitment to furthering trade and investment links.

DIFC is a free trade zone located in Dubai, which offers a number of perks to firms, including zero percent income tax guaranteed for 50 years and no exchange controls. It allows 100 percent foreign ownership.

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