Family businesses in Dubai: Difc and Emirates NBD Sign Support Partnership UHNWIS
The Dubai International Financial Center (DIFC) has signed a strategic partnership with Emirates NBD aimed at strengthening the management, diversification and preservation of long-term wealth of family businesses and eligible individuals (UHNWIS).
The partnership will be channeled through the Difc Family Wealth Center, strengthening Dubai’s position as a global hub for family business.
DIFC has announced a partnership with Emirates NBD to certify family-owned businesses and Uhnwis within the DIFC Family Wealth Center.
Family businesses in Dubai
Under the agreement, Emirates NBD private bank will work with Difc Family Facial Center (DFWC) to address the emerging needs of UHNWIS and their family businesses.
The partnership will provide a framework for applied structures, governance models, tax planning and succession planning designed to support stability and legast time.
Emirates NBD will also provide Difc’s world-class infrastructure to deliver bespoke educational programmes, workshops and resources covering family management, family office planning and family office architecture.
The Alliance aligns the strategic objectives of the other organizations and underscores their commitment to strengthening the family business ecosystem, adding value to Emirates NBD Private Banking customers and DFWC members.
Dubai remains the only financial center in the region recognized as a global leader with broad and deep capabilities, according to the Global Financial Services Index. Emirates NBD, as a leading National Bank, places great emphasis on supporting family businesses through succession planning, wealth management and specialized banking services.
Supc support
Currently, more than 1,250 family-related organizations, including secret customer centers worldwide, operate within the difc. The top 120 families based at the center of the case managed more than U$1.2TN in assets worldwide.
Across the UAE, family businesses contribute 60 percent of GDP and employ 80 percent of the national workforce.
Arif Amiri, CEO of DIFC Authority, said: “Family businesses from around the world choose Dubai and DIFC with a family platform and advanced access that allows families to protect wealth and build inspiring legacies.
“Our partnership with Emirates NBD reinforces difc’s commitment to providing sustainable family protection strategies through strong governance structures and a succession planning framework.”
Mohammad Al Bastaki, group head of private banking and professional management, said: “Emirates NBD Private Banking is proud to join forces with Difc.
“We understand the unique values and aspirations of family businesses, and by partnering with difc, we provide a comprehensive platform with family-owned businesses that offer unparalleled expertise, succession and wealth preservation.
“This underscores our commitment to empowering our clients to navigate the future with confidence, ensuring their legacies endure and thrive for generations to come.”
The difc provides various tools and frameworks to support family businesses and ehnwis, intellectual property, asset protection, asset protection, equity investment, family offices and foundations.
The partnership also provides direct access to Emirates NBD Private Banking’s complementary solutions, including family management and succession planning services such as the Bank’s next-generation initiatives. These measures aim to help businesses prepare for the future, ensure continuity and preserve family values from generation to generation.
