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Sun 22 Sep 2013 07:39 PM

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Dubai bourse chief appointed as new DIFC governor

Sheikh Mohammed issues decree to appoint Essa Abdulfattah Kazim in key financial role

Dubai bourse chief appointed as new DIFC governor
Essa Abdulfattah Kazim, the new governor of the DIFC.

Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum on Sunday issued a decree appointing Essa Abdulfattah Kazim as governor of the Dubai International Financial Centre (DIFC).

Kazim, previously CEO and managing director of Dubai Financial Market, will succeed Abdullah Mohammed Saleh, who will continue to serve as a member of the DIFC foard of directors.

The decree will be effective with effect from January 1, 2014, news agency WAM reported.

Sheikh Mohammed praised the "dedication and efficiency" of Saleh in serving his country throughout his tenure, during which he played a pivotal part in emphasizing the leading role of Dubai as an international hub for the financial services industry, WAM added.

DIFC, launched in 2004, is currently one of the region’s leading financial centres with more than 800 financial services companies and law firms currently based in the free zone.

In the first half of 2013, the number of active companies registered at DIFC increased by 7 percent to 979, creating more than 1,000 jobs. Total leased commercial space was up by 6 percent to 122,300 sqft, while overall occupancy in DIFC-owned commercial offices rose to 97 percent.

DIFC said that 36 percent of its regulated companies had their headquarters in Europe, 27 percent in the Middle East, 16 percent in North America, 11 percent in Asia and 10 percent in the rest of the world.

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