DIFC, Guernsey team up to unlock dynamic economic growth

DIFC, Guernsey team up to unlock dynamic economic growth

Dubai International Financial Centre (DIFC) has announced it is joining forces with Guernsey Finance, a joint industry and government initiative, to foster growth and innovation in a continued effort to drive the future of finance.

Under an agreement signed recently by Arif Amiri, Chief Executive Officer, DIFC Authority, and Rupert Pleasant, Chief Executive Officer, Guernsey Finance, both entities will work collaboratively to drive the development of the financial services industry through digital and in-person events, which will nurture talent, and support the exchange of knowledge and information.

The agreement will also strengthen the relationship between the two International Financial Centres (IFCs) and enhance commitment to global collaboration. The agreement supports investment inflows between the two jurisdictions and nurtures and protects investors.

Captive jurisdiction

Guernsey has a deep-rooted history of providing specialist wealth management services and is a notable Captive jurisdiction. More than 20% of the UK FTSE 100 have captives domiciled in Guernsey. In addition to UK companies, several firms in Europe, USA, Middle East, Asia, South Africa, Australia, and the Caribbean have established captives in Guernsey. The first Captive that was re-domiciled from Guernsey to DIFC was licensed by Dubai Financial Services Authority (DFSA) in November 2023.

The signing took place when Guernsey Finance’s