Partnership to empower families and safeguard legacies
Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, has announced a strategic partnership with Emirates NBD to empower family businesses and UHNWIs within the DIFC Family Wealth Centre.
Under the terms of the strategic agreement, Emirates NBD Private Banking will collaborate with DIFC Family Wealth Centre (DFWC) to address the evolving needs of ultra-high-net-worth individuals (UHNWIs) and their family businesses by providing tailored frameworks, robust governance models, tax structuring, and succession planning to ensure long-term sustainability and legacy preservation.
Recognising the critical need for specialised support, Emirates NBD will leverage the world-class infrastructure of DIFC to provide bespoke educational programmes, workshops, and other resources focusing on key topics including best practices in family governance, succession planning, and family office structures.
Family-related entities
Currently more than 1,250 family-related entities, including many global private-client institutions, are housed within DIFC. Collectively, the top 120 families based in DIFC manage over US$ 1.2tn in assets globally, contributing significantly to the UAE’s economy, where family businesses drive around 60 per cent of GDP and employ 80 per cent of the national workforce.
“Our collaboration with Emirates NBD reinforces DIFC’s commitment to enabling sustainable family wealth strategies through robust governance and succession planning frameworks,” observed HE Arif Amiri, Chief Executive Officer, DIFC Authority.
“Emirates NBD Private Banking is proud to join forces with DIFC. The agreement marks a significant milestone in our commitment to our private banking clients,” emphasized Mohammad Al Bastaki, Group Head of Private Banking and Wealth Management, Emirates NBD.
