Dubai International Financial Centre (DIFC) came to an agreement with Gujarat International Finance Tec-City (GIFT) by signing Memorandum of Understanding (MoU) to enhance the mutual development with corporation and collaboration on the business front.
The deal is to share the best practices of mutual interest, exchange of banking information, financial services and securities, legislation and regulations, area of training, setting up organising seminars and conferences and exchange of financial information on trends especially within the FinTech field. Furthermore, it will give both the financial centres an opportunity to set up their entities in Gujarat or Dubai by establishing International Exchange program on mutually agreed terms.
DIFC is really looking forward to this agreement while hosting more than 25 Indian firms currently commenced from 2007. Reportedly, Indian institutions are the third largest community of financial firms after the US and the UK and have more than a quarter of currently employed workforce worldwide.
Source: ET Realty