Sunday 22, July 2018 by Kudakwashe

DIFC signs MoU with China’s Everbright Group

 

The agreement will support the Everbright Group’s business development across the Middle East, Africa and South Asia (MEASA) region.

  

Dubai International Financial Centre (DIFC), has signed an MoU with China’s Everbright Group (CEG).

The two parties agreed to collaborate on opportunities related to the $5 trillion-plus Belt and Road Initiative.

The Chinese state-owned enterprise that operates across banking, securities as well as insurance, funds and asset management is exploring collaboration opportunities relating to China’s Belt and Road Initiative (BRI). 

HE Essa Kazim, Governor of DIFC, said that through the collaboration with China Everbright Group, DIFC is perfectly positioned to facilitate significant opportunities as part of the Belt and Road Initiative.

DIFC is already home to China’s four largest banks, which has already upgraded their banking licences from subsidiaries to fully-fledged branches

The financial centre has continued to see growth from the registered Chinese financial institutions, which accounted for 22 per cent of total assets booked as at the end of Q3 2017.

 

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