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Dubai International Financial Centre (DIFC) on Tuesday announced the signing of a memorandum of understanding with Gujarat International Finance Tec-City (GIFT) to encourage cooperation and collaboration between the two financial hubs.
The MoU covers areas such as best practices of mutual interest, exchange of information on banking, financial service and securities, legislation and regulation besides cooperation in the areas of training, seminars and conferences.
DIFC has witnessed an exponential growth in the number of Indian firms operating from the Centre - from hosting one Indian institution in 2007 to more than 25 Indian firms at present. Indian institutions make up the third largest community of financial firms at DIFC after the US and the UK, and account for more than a quarter of the current employed workforce.
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