Dubai International Finance Centre, MENA-based financial centre, announces launch of a first of its kind Global Family Business and Private Wealth Centre to support ultra-high-net-worth individuals.

The centre is aimed at growing and supporting the global family-business sector, where it will bring together global family-owned businesses, ultra-high net worth individuals (UHNWIs) and Private Wealth from all over the world to allow for networking and establishing their presence in Dubai.

“The UAE has a vast number of family businesses, owned by citizens and residents who contribute to the country’s economy. In the next decade, those families and others in the Middle East are expected to transfer AED3.67 trillion to the next generation, which illustrates the urgent need to provide them with specialist, consolidated support to help them grow,” said Essa Kazim, Governor of Dubai International Finance Centre.

The hub will offer its members high-end training sessions, accreditations, advisory services as well as access to DIFC’s financial and legal ecosystem. It will also aid them in the process of issuing publications and will be offering them dispute resolution and concierge services.

“The new Centre will play a unique role in guiding family businesses in relation to governance, succession, ownership, wealth, family dynamics and strategy. Our role is crucial to ensure the long-term growth of family businesses,”Tarek Hajjiri, appointed CEO for the Global Family Business and Private Wealth Centre commented.

It has been approved by Dubai International Finance Centre Authority Board of Directors and is due to launch on 1 September 2022.

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