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Special Supplement: DIFX - Audacious Plan Comes To Fruition - The Dubai International Financial Exchange, Part Of An Ambitious Plan For A Rival To The Great Financial Centres Of The World, Must Now Prove Its Market Model Will Work In Practice. Mark Fisher.
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The Banker
- Article date:
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September 1, 2005
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The Dubai International Financial Exchange (DIFX) is a key part - and without doubt the most audacious one - of a remarkable venture that was announced by the government of Dubai in February 2002.
The plan was for an international financial centre with similar status to those in New York, London and Hong Kong. It was named the Dubai International Financial Centre (DIFC).
There were sceptics. Dubai was known for five-star hotels and shopping festivals. True, it had also turned itself into a trading hub and convinced multinationals, such as Microsoft, to make it their Middle East headquarters. It was business-friendly and entrepreneurial, with a number of successful free ...