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DIFC, Paris Europlace Renew Collaboration

by Lorys Charalambous, Lowtax.net, Cyprus
14 November, 2017

The Dubai International Financial Centre and Paris Europlace, the professional body that promotes Paris as an international financial center, have agreed to enhance cooperation.

Under an updated Memorandum of Understanding (MoU), the two centers have agreed to exchange information on the latest trends in the finance industry, with a focus on the FinTech field and financial inclusion. The centers will also share their experiences of regulatory and business structure best practice, and seek to provide a collaborative platform for cooperation and knowledge sharing.

Commenting on the long-term collaboration between the two centers, Arif Amiri, CEO of DIFC Authority, said: "Paris Europlace is an important partner for us at DIFC, and we are pleased to re-establish an even stronger bond with them through this MoU. Since 2009, we have been working closely with Paris Europlace to share best practices in the areas of financial regulation and financial education as well as Islamic finance. We believe this is an opportune time to expand this long-term relationship to cover new emerging trends like FinTech and financial inclusion, which will in turn help us bring banking solutions to millions of the underbanked or unbanked in the region."

Arnaud de Bresson, CEO of Paris Europlace, said: "As the leading financial marketplace of the Eurozone, Paris financial marketplace has strong assets to share with DIFC. We are glad to reinforce our cooperation and business opportunities with one of the booming financial hubs in the region."

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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