Dubai Worldwide Monetary Centre (DIFC) has entered a strategic partnership with Emirates NBD to empower household companies and ultra-high-net-worth people (UHNWIs) inside the DIFC Household Wealth Centre.
The collaboration goals to deal with the evolving wants of rich households by offering tailor-made frameworks, sturdy governance fashions, tax structuring, and succession planning. That is designed to make sure long-term sustainability and legacy preservation for these enterprises.
Household companies are a cornerstone of the UAE’s economic system, contributing round 60 per cent of GDP and using 80 per cent of the nationwide workforce. DIFC at present homes greater than 1,250 family-related entities, with the highest 120 households primarily based within the Centre managing over $1.2trillion in property globally.
A complete framework for wealth preservation
Beneath the settlement, Emirates NBD Non-public Banking will leverage DIFC’s infrastructure to supply a complete strategy to wealth administration. This consists of offering bespoke academic programmes, workshops, and sources centered on finest practices in household governance and household workplace constructions.
The partnership may even give shoppers direct entry to tailor-made merchandise from Emirates NBD Non-public Banking, together with its ‘Subsequent Technology’ programmes, that are designed to arrange future leaders for succession.
His Excellency Arif Amiri, chief government officer of DIFC Authority, stated: “Household companies from world wide select Dubai and DIFC as a trusted platform to develop, innovate, and plan for the long run. As a world hub for household enterprise, Dubai affords a progressive setting and DIFC supplies world-class constructions and advisory entry that allow households to safeguard wealth and construct enduring legacies. Our collaboration with Emirates NBD reinforces DIFC’s dedication to enabling sustainable household wealth methods by means of sturdy governance and succession planning frameworks.”
Navigating complexity for future generations
The initiative recognises the distinctive complexities confronted by household enterprises, notably within the areas of succession and governance. By combining DIFC’s regulatory setting with Emirates NBD’s banking experience, the partnership goals to create a sturdy ecosystem that helps enterprise continuity and the preservation of household values.
Mohammad Al Bastaki, group head of personal banking and wealth administration at Emirates NBD, commented: “Emirates NBD Non-public Banking is proud to affix forces with DIFC. The settlement marks a big milestone in our dedication to our personal banking shoppers. We perceive the distinctive complexities and aspirations of household companies, and by collaborating with DIFC, we’re offering a holistic platform to family-owned enterprises that gives unparalleled experience in governance, succession, and wealth preservation. This alliance underscores our dedication to empowering our shoppers to navigate the long run with confidence, making certain their legacies endure and thrive throughout generations.”
