Dubai International Financial Centre signs Memorandum of Understanding with Mumbai Metropolitan Region Developmental Authority

  • Agreement includes exchange of best practice and support for MMRDA in setting up an international financial centre in Mumbai

Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region, has signed a Memorandum of Understanding (MoU) with Mumbai Metropolitan Region Developmental Authority (MMRDA), an urban town planning and development authority established by the Government of the State of Maharashtra.

The City of Mumbai endeavours to set up its own international financial centre, in order to position it as the financial capital of India. In support of this initiative, the agreement signed with DIFC enables both entities to exchange knowledge and international best practice.

Arif Amiri, Chief Executive Officer of DIFC Authority, said the MoU would boost mutual cooperation, stating: “DIFC is recognised as the most robust and dynamic regulatory and legal system in the region, and we are pleased to share our experience of over a decade with other authorities looking to develop their own financial ecosystem. By working closely with partners such as MMRDA, we will further advance the development of a secure, stable and well managed global financial system.”