Wednesday, December 31, 2008: Corporate Research and Investigations LLC (CRI Middle East LLC) (www.cri.ae), a subsidiary of Corporate Research and Investigations (Pvt) Limited and a leading provider of investigative research services, today announced the opening of its offices in the Dubai International Financial Centre (DIFC).
For the past 20 years, CRI Group has been safeguarding clients across the Asia Pacific, South Asia, the Middle East and North Africa by establishing the legal compliance, financial viability and integrity levels of outside partners, suppliers, customers and other sources seeking potential business affiliations.

Nasser Al Shaali, CEO of DIFC Authority said: “The ability to effectively pre-empt corporate crimes and conduct timely investigations of crimes and malpractices can save corporations from huge potential losses and reputation damage. Reliable providers of corporate investigative services like CRI can significantly help corporations in dealing with crime, fraud and malpractice. CRI’s expertise will add to the diverse pool of business support services available within the DIFC.”

Zafar I. Anjum, CEO of CRI Middle East, commented on the advantages of utilizing a business investigations firm in an expanding global economy.

“Today’s business climate dictates an increasing demand for proactive measures designed to reduce the exposure of international business organizations to economic crime and civil wrongs, particularly in the financial, government and multi-national business sectors,” Anjum said. “CRI’s worldwide network of multi-disciplined investigators helps organizations prevent and deter business crimes, employee malfeasance, threats and accounting fraud while ensuring our clients conform to DIFC regulations and UAE laws. The establishment of our offices in the Dubai International Financial Centre gives us the platform to expand our business further and enhance the level of support we offer to the international business community.”

CRI’s level of professional services spans fraud and white collar crime investigations; business intelligence and investigations; employee, vendor and supplier background investigations; due diligence and “Know-Your-Client” inquiries; insurance fraud investigations; Special Investigation Unit (SIU) services; Risk Management and Corporate Security Consulting; and skip tracing and debt collection services.

About DIFC:

The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centres of Hong Kong and London and services a region with the largest untapped emerging market for financial services. In just four years, over 700 firms have registered at the DIFC. They operate in an open environment complemented with world-class regulations and standards. The DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards.

Dubai, 25 November 2008: As the global economy creates a new financial architecture, incorporating lessons from the global financial crisis, Islamic banking could emerge as a role model because of its focus on ethical investments.

This was one of the key messages that emerged from a panel discussion on Islamic Finance that took place on the first day of DIFC Forum, the second major business conference that forms part of DIFC Week, the Dubai International Financial Centre’s (DIFC) prestigious annual series of business events.

Participants in the session titled ‘What will it take to lead the next generation of Islamic Finance’ included Khalid Abdulla-Janahi, Group Chief Executive of Dar Al-Maal Al-Islami (DMI) and Chairman of Ithmaar Bank; Hari Bhambra, Senior Partner, Praesidium LLP; Prof. KC Chan, Hong Kong Secretary for Financial Services and the Treasury; and Iqbal Ahmed Khan, CEO, Fajr Capital.

Panelists were of the common opinion that the global financial crisis will have an impact on the Islamic Finance industry. However, the industry has scope for considerable long-term growth. “If you look at the demographics of the market, for example in Islamic countries like Egypt, there is a large number of people who need banking services,” said Iqbal Ahmed Khan. “There is a large market out there that is underserved,” he pointed out.

Furthermore, the ethical investment principles on which the sector operates will allow Islamic finance institutions to align themselves with corporate social responsibility (CSR) groups to create a wider appeal for Islamic Finance products, Khan said.

Khalid Abdulla-Janahi said that during the financial crisis, the industry could witness several mergers and acquisitions that could transform the industry. He urged Islamic finance banks to look at acquiring large conventional banks that would give them the ability to become leaders and innovators in the global economy.

The role played by regulators is critical to the progress of Islamic Finance. Many panelists felt that Islamic Finance institutions need to be regulated differently from conventional banks and regulators are sometimes extremely stringent on the Islamic finance sector. “The operational framework can either hinder or promote Islamic finance. If you over-regulate it you are going to strangle it,” said Hari Bhambra.

Khan argued that Islamic Finance should play a role in finding solutions to support people who belong to the most vulnerable sections of society. “The financial crisis will affect poverty-reduction budgets around the world and there is a risk of increased polarisation between the rich and the poor. Islamic Finance can play a role in helping the poorest sections of society by finding creative solutions to support them.”

When asked to identify the key areas of improvement within Islamic Finance, panel members named building the capacities of practitioners and educating regulators as critical needs.

The DIFC Forum, being held on 24 and 25 November, is discussing critical issues like the impact of the global financial crisis on the region, the next generation of Islamic Finance, emerging markets in and after the financial crisis, and energy geopolitics in an era of structural change.

With over 70 speakers from the world’s major international markets, 21 separate sessions, and a televised debate on how to get confidence back in the global financial markets, DIFC Week will address the most important issues faced by businesses in the region both in the current financial climate and in the future. Topics to be discussed at the four-day event include growth strategies, opportunities and major challenges for family businesses both locally and internationally, the economic outlook for the world and the GCC in 2009, attracting foreign investment and human capital in the Arab world, and the practicalities of establishing operations in Dubai.

Closing DIFC Week will be a Conference on 26 November titled: ‘The Inside Track on Dubai’, which will involve a series of commercial, regulatory and teaching streams that discuss the practicalities of establishing operations in Dubai covering issues such as raising capital and understanding cultural aspects of living and working in the Emirate.

DIFC Week is proud to be supported by its Platinum Sponsors including Deutsche Bank and Abraaj Capital, and Sponsors who include Itau Securities and Goldman Sachs . In addition, the DIFC Week Conference is sponsored by Alvarez & Marsal, Conyers, Dill & Pearman, Emirates NBD, Grant Thornton, HAYS, International Compliance Training (ICT) Middle East, Kershaw Leonard, Latham and Watkins, M: Communications, Norton Rose and Union Properties while the DIFC Week Gala Networking Reception is sponsored by Sungard. The DIFC Summit is run in association with the Tharawat Family Business Forum.

DIFC Week is also grateful for the active support and involvement of its Knowledge Partners who include Al Tamimi & Company, British Business Group, DIFC Centre of Excellence, Oxford Analytica, Simmons & Simmons, Young Arab Leaders, and DNM connect; its Media Partners which are, AME Info, Arabian Business,, Al Arabiya News Channel, CNBC, Dow Jones, Dubai Eye, Financial News, The Times, The Sunday Times, SAB Media, The Wall Street Journal, Oxford Business Group and Zawya; as well as DIFC Week’s Joint Marketing Partner, Dubai Corporate Counsel Group..

In addition, DIFC Week also expresses its gratitude to Itau Securities, the Sponsors of the DIFC Week Golf Championships.

About DIFC:
The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centres of Hong Kong and London and services a region with the largest untapped emerging market for financial services. Since November 2004, over 650 firms have registered at DIFC. They operate in an open environment complemented with world-class regulations and standards. DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition, their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards. In March 2008, the City of London’s Global Financial Centres Index (GFCI) ranked Dubai as the region’s fastest growing financial hub.

About Tharawat Family Business Forum:
The Tharawat Family Business Forum is a network of family-owned enterprises in the Arab World. The organisation provides a platform for the exchange of ideas and experiences on business and management issues related to family businesses in the Arab world. Tharawat’s vision is to become the first-choice networking and mutual-assistance forum for family businesses in the Arab world. Through its network of members, Tharawat aims to encourage collaboration and alliances among family-owned and controlled firms in the region. It provides its members specialised education and helps them leverage business opportunities in the region and beyond. The forum seeks to bring a new focus on the business, social and cultural challenges facing family firms in the region. It promotes and sponsors research that helps advance the sustainable development of family businesses. It also works to raise public awareness of new developments within the family business sector. The Tharawat Family Business Forum has a governance structure designed to guarantee the transparency of its activities and its receptivity to high-quality inputs from both members and external experts. The members of Tharawat constitute an innovative and committed community of family-owned businesses, working together to improve collaboration, business growth, and prosperity.

About Deutsche Bank:
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 81,308 employees in 75 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

Deutsche Bank’s commitment in the MENA region is more than a century old, beginning with the Bank’s financing of the construction of the Baghdad railway. Deutsche Bank opened its first office in Cairo in 1959, followed in the early seventies by an office in Bahrain. In 1999, Deutsche Bank embarked on a regional expansion drive across the GCC which began with the opening of an office in the UAE’s Capital Abu Dhabi in 1999, followed by two offices in Dubai: a representative office inaugurated in 2001 and a branch at the Dubai International Financial Centre (DIFC) in 2005. In April of 2006, Deutsche Bank opened a branch in the Kingdom of Saudi Arabia, in the capital Riyadh. In November of 2007, Deutsche Bank opened its branch in the Qatar Financial Centre in Doha. Deutsche Bank AG in the MENA region offers the full range of investment banking, asset management; private wealth management; and global transaction banking services. Deutsche Bank AG is well recognized for its leading role on some of the most prestigious regional transactions. The Bank is the recipient of several regional and international awards in recognition for its achievements in investment banking and Islamic finance in the region.

About Abraaj Capital:
Dubai-based Abraaj Capital is the largest private equity company in the Middle East and North Africa with more than US$ 7.5 billion of assets under management. Established in 2002, the company has led the way in developing the private equity industry in the region. Abraaj Capital Ltd. is licensed by the Dubai Financial Services Authority, which operates according to international regulatory standards. The company’s more than 165 ‘best in class’ employees are drawn from the global talent pool, and span more than two dozen nationalities. Abraaj Capital invests in the growing Middle East, North Africa and South Asia (MENASA) region and has executed some of its landmark deals. These include the US$ 1.41 billion purchase in 2007 of Egyptian Fertilizers Company, the largest leveraged buy-out in MENA. Abraaj Capital has won several industry awards, including ‘Middle Eastern Private Equity Firm of the Year’ from Private Equity International (2005, 2006 & 2007). On average, Internal Rates of Return exceed 50 percent.

H.E. Dr. Omar Bin Sulaiman, Governor of DIFC said: “Family businesses play a highly significant role in the regional economy and that is why we are holding this Summit to address the specific challenges and opportunities which they face at this time. DIFC will provide regional family businesses the chance to work together to build alliances that would create unlimited opportunities in the face of the current crisis.”

Dr. Hischam El Agamy, Executive Director, Tharawat Family Business Forum, the joint organiser of the Summit commented: “The current situation requires Arab families to develop new ways of conducting business.  Family businesses can adapt well due to their strength in the region and their values.  By bringing together influential leaders of Arab families and their businesses to share their perspectives and experience, we will together produce new opportunities for regional alliances that will lead to significant future business and investment opportunities, particularly as we emerge from the financial crisis.”

Other themes for discussion tomorrow at the DIFC Summit will be the global and regional economic outlook and how the financial crisis will impact family businesses, mastering growth in the current business climate and guiding family businesses through the global downturn.  There will also be a session dedicated to developing potential scenarios for the future and new ways of doing business including cross-border acquisitions and alliances.

In the GCC, family businesses – where family members influence the direction of the organization through the exercise of ownership rights or management roles – account for over 90 percent of all commercial activities. In the Middle East, it is estimated that over 80 percent of all businesses are family-run or family-owned. Dubai alone is a hub for more than 30,000 family businesses.

Amongst the VIPs that attend tomorrow’s event will be;

• His Excellency Dr. Omar Bin Sulaiman
• His Royal Highness Prince Mohamed Al Faisal
• His Excellency Abdulaziz Al Ghurair
• Mr. Essa Al Ghurair
• Mr. Khalid Kanoo
• Mr. Khalid Al Zamil
• Mr. Salah Al Wazzan
• Mr. Hussein Jawad
• Mr. Essa Al Serkal

The DIFC Summit, sponsored by Deutsche Bank and Abraaj Capital, provided a platform for the mutual exchange of knowledge and insights on management, growth, continuity, strategy and other business-related topics.

DIFC week is proud to be sponsored by Deutsche Bank, Abraaj Capital, Goldman Sachs and Itau Securities.  In addition, the DIFC Week Conference is sponsored by Alvarez & Marsal, Conyers, Dill & Pearman, Emirates NBD, Grant Thornton, HAYS, ICT, Kershaw Leonard, Latham Watkins, M Communications and Norton Rose. DIFC Week family summit is run in association with Tharawat Family Business Forum.

DIFC Week is also grateful for the active support and involvement of it’s media partners which are; AME Info, Arabian Business, CNBC, Dow Jones, Dubai Eye, Financial News, The Times, The Wall Street Journal and Zawya.

About DIFC:
The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centres of Hong Kong and London and services a region with the largest untapped emerging market for financial services. Since November 2004, over 650 firms have registered at DIFC. They operate in an open environment complemented with world-class regulations and standards. DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition, their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards. In March 2008, the City of London’s Global Financial Centres Index (GFCI) ranked Dubai as the region’s fastest growing financial hub.

About Tharawat Family Business Forum:
The Tharawat Family Business Forum is a network of family-owned enterprises in the Arab World. The organisation provides a platform for the exchange of ideas and experiences on business and management issues related to family businesses in the Arab world. Tharawat’s vision is to become the first-choice networking and mutual-assistance forum for family businesses in the Arab world. Through its network of members, Tharawat aims to encourage collaboration and alliances among family-owned and controlled firms in the region. It provides its members specialised education and helps them leverage business opportunities in the region and beyond. The forum seeks to bring a new focus on the business, social and cultural challenges facing family firms in the region. It promotes and sponsors research that helps advance the sustainable development of family businesses. It also works to raise public awareness of new developments within the family business sector. The Tharawat Family Business Forum has a governance structure designed to guarantee the transparency of its activities and its receptivity to high-quality inputs from both members and external experts. The members of Tharawat constitute an innovative and committed community of family-owned businesses, working together to improve collaboration, business growth, and prosperity.

About Deutsche Bank:
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 81,308 employees in 75 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

Deutsche Bank’s commitment in the MENA region is more than a century old, beginning with the Bank’s financing of the construction of the Baghdad railway. Deutsche Bank opened its first office in Cairo in 1959, followed in the early seventies by an office in Bahrain. In 1999, Deutsche Bank embarked on a regional expansion drive across the GCC which began with the opening of an office in the UAE’s Capital Abu Dhabi in 1999, followed by two offices in Dubai: a representative office inaugurated in 2001 and a branch at the Dubai International Financial Centre (DIFC) in 2005. In April of 2006, Deutsche Bank opened a branch in the Kingdom of Saudi Arabia, in the capital Riyadh. In November of 2007, Deutsche Bank opened its branch in the Qatar Financial Centre in Doha. Deutsche Bank AG in the MENA region offers the full range of investment banking, asset management; private wealth management; and global transaction banking services. Deutsche Bank AG is well recognized for its leading role on some of the most prestigious regional transactions. The Bank is the recipient of several regional and international awards in recognition for its achievements in investment banking and Islamic finance in the region.

About Abraaj Capital:
Dubai-based Abraaj Capital is the largest private equity company in the Middle East and North Africa with more than US$ 7.5 billion of assets under management. Established in 2002, the company has led the way in developing the private equity industry in the region. Abraaj Capital Ltd. is licensed by the Dubai Financial Services Authority, which operates according to international regulatory standards. The company’s more than 165 ‘best in class’ employees are drawn from the global talent pool, and span more than two dozen nationalities. Abraaj Capital invests in the growing Middle East, North Africa and South Asia (MENASA) region and has executed some of its landmark deals. These include the US$ 1.41 billion purchase in 2007 of Egyptian Fertilizers Company, the largest leveraged buy-out in MENA. Abraaj Capital has won several industry awards, including ‘Middle Eastern Private Equity Firm of the Year’ from Private Equity International (2005, 2006 & 2007). On average, Internal Rates of Return exceed 50 percent.

His Highness Sheikh Maktoum said: “The ringing of NASDAQ OMX’s remote opening bell represents the global prominence that Dubai has gained in the global financial industry. Guided by the vision of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Dubai has seen exceptional development over the past few years to become a leading international centre of financial activity. The ceremony today is, in many ways, a recognition of this growth.”

The ceremony was also attended by HE Dr. Omar Bin Sulaiman, Governor of the Dubai International Financial Centre (DIFC), Essa Kazim, Chairman, Borse Dubai and Jeff Singer, Chief Executive Officer of NASDAQ Dubai.

The NASDAQ remote opening bell ceremony is a recreation of the daily opening bell that takes place in NASDAQ. The opening bell event is a symbolic ceremony that represents the start of the NASDAQ trading day, which brings together investors and market participants from around the world to trade electronically.

HE Dr. Omar Bin Sulaiman said: “Dubai is rapidly rising in importance as a key channel for global capital flows and today’s opening bell ceremony reinforces this status. The rebranded NASDAQ Dubai exchange will further enhance Dubai’s position by tapping several new synergies between between the technology, expertise and brand equity of NASDAQ OMX and the vast growth potential and emerging market access that Dubai offers.”

The ceremony was broadcast on NASDAQ’s seven-story Tower overlooking the Times Square in New York, which more than a million people pass by daily. It was also broadcast via NASDAQ’s MarketSite studio which conducts daily broadcasts aired around the globe.

On Tuesday this week, the Dubai International Financial Exchange (DIFX) was rebranded as NASDAQ Dubai. Following the rebranding, NASDAQ OMX Group announced it has listed its shares on NASDAQ Dubai. The NASDAQ OMX Group owns one third of the shares of NASDAQ Dubai. The other two thirds are owned by Borse Dubai.

Under the theme Sustaining our Oasis of Prosperity in a Turbulent World, DIFC Week 2008, is devoted to discussing regional growth prospects in the light of current global developments.

H.E. Dr. Omar Bin Sulaiman said: “DIFC Week provides a platform for thought leaders from the region and across the world to engage in a discussion on the critical issues determining our region’s future. As developed markets go through a period of financial stress, DIFC Week gives us a chance to discuss strategies for sustaining regional growth. It also gives us a platform for sharing insights and ideas on how we can convert the challenges that the crisis brings into opportunities.”

Apart from HE Dr. Omar Bin Sulaiman, those due to speak at DIFC Week include:

• Dr. Josef Ackermann, Chairman of the Management Board and the Group Executive Committee, Deutsche Bank AG
• H.E. Mohamed Alabbar, Member, Dubai Executive Council and Chairman, Emaar Properties
• HRH Prince Mohammed K A Al Faisal, President and CEO of the Al Faisaliah Group Holding
• Nasser Al Sheikh, Director-General of the Dubai Department of Finance
• Sheikha Hanadi Nasser bin Khaled al-Thani, Deputy Chief Executive Officer of Nasser bin Khaled & Sons and founder of AMWAL
• HRH Nazrin Shah, Crown Prince of Perak State Malaysia;
• Sameer Al Ansari, Executive Chairman and Chief Executive of Dubai International Capital LLC
• Peter Oppenheimer, Partner and Global Strategist at Goldman Sachs
• Professor K.C. Chan, Hong Kong Secretary for Financial Services and the Treasury
• Raja Sidawi, Chairman, Energy Intelligence
• Dr. Kevin W. Lu, Director and Chief Financial Officer, Multilateral Investment Agency, The World Bank Group
• Maria Bartiromo, Anchor, CNBC

DIFC Week opens on 23 November, 2008 with a one-day Summit on family businesses. Key decision makers from leading regional and global family businesses will gather to discuss the issues currently on their minds.  What strategies are critical for growth and prosperity during the current economic downturn?  What are the internal and external challenges facing family businesses now?

Also part of DIFC Week is the DIFC Forum, to be held from 24 to 25 November. H.E. Mohamed Alabbar will kick off the Forum in his first major public address as the head of the high-level committee set up to help manage the impact of the global financial turmoil on Dubai.  In addition, highly interactive sessions will look at critical issues like the economic outlook for the world and the GCC region, the next generation of Islamic Finance, emerging markets in and after the financial crisis, and energy geopolitics in an era of structural change. One of the highlights of the Forum is a session titled “Get the Confidence Back’ moderated by Maria Bartiromo, Anchor, CNBC.

Immediately following the Forum, DIFC Week will feature a conference on 26 November titled: ‘The Inside Track on Dubai’. A series of workshops at the conference will discuss the practicalities of establishing operations in Dubai covering legal and regulatory issues, raising capital and understanding the cultural aspects of living and working in the Emirate.

Participation in the Summit is by invitation only to ensure a high-quality environment for business networking. Professional moderators and interactive sessions are expected to facilitate highly productive discussions and debates.

About the DIFC:

The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centres of Hong Kong and London and services a region with the largest untapped emerging market for financial services. In just four years, over 750 firms have registered at the DIFC. They operate in an open environment complemented with world-class regulations and standards. The DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards. (www.difc.ae)

DIFC Week is sponsored by Tharawat, the Arab family business network, Deutsche Bank and Abraaj Capital.

About Deutsche Bank:

Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 78,275 employees in 76 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people. Deutsche Bank’s commitment in the MENA region is more than a century old, beginning with the Bank’s financing of the construction of the Baghdad railway. Deutsche Bank opened its first office in Cairo in 1959, followed in the early seventies by an office in Bahrain. In 1999, Deutsche Bank embarked on a regional expansion drive across the GCC which began with the opening of an office in the UAE’s Capital Abu Dhabi in 1999, followed by two offices in Dubai: a representative office inaugurated in 2001 and a branch at the Dubai International Financial Centre (DIFC) in 2005. In April of 2006, Deutsche Bank opened a branch in the Kingdom of Saudi Arabia, in the capital Riyadh. Most recently in November of 2007, Deutsche Bank opened its branch in the Qatar Financial Centre in Doha. Deutsche Bank AG in the MENA region offers the full range of investment banking, asset management; private wealth management; and global transaction banking services. Deutsche Bank’s AG is well recognized for its leading role on some of the most prestigious regional transactions. The Bank is the recipient of several awards for its activities in Islamic Finance; and was proclaimed in 2007 as the Best M&A Bank in Middle East & North Africa by Global Finance World. For more information please visit www.db.com.

About Abraaj Capital:

Based in Dubai, Abraaj Capital is the premier investment firm specialising in private equity investment in the Middle East, North Africa and South Asia (MENASA) region. The management team has brought together some of the most compelling and successful transactions in the history of leveraged acquisitions across the region. With US$5 billion of assets currently under management, Abraaj has pioneered institutionalizing private equity practice in the region and is setting trends and benchmarks for others to follow. Winner of industry awards including ‘Middle Eastern Private Equity Firm of the Year’ from Private Equity International (2005, 2006 & 2007), the Banker Middle East Award for ‘Best Private Equity House’ in 2006 and for ‘Outstanding Contribution to Financial Services’ in 2007 and ‘Best Private Equity House’ at the World Private Equity Awards, MENA in 2007. Arabian Business recognized Abraaj among the 50 Most Admired Companies in the GCC in 2007. Abraaj is also the first pure private equity firm to be registered by the Dubai Financial Services Authority to operate out of the Dubai International Financial Centre. Apart from managing its five private equity funds, Abraaj Capital Holdings Limited (ACHL) itself is extremely well capitalized, with an issued share capital of US$1 billion. Its 135 professionals come from 27 nationalities and achieve a coverage that spans the MENASA region. For more information please visit www.abraaj.com

About Tharawat Family Business Forum:

The Tharawat Family Business Forum is a network of family-owned enterprises in the Arab World. The organisation provides a platform for the exchange of ideas and experiences on business and management issues related to family businesses in the Arab world. Tharawat’s vision is to become the first-choice networking and mutual-assistance forum for family businesses in the Arab world. Through its network of members, Tharawat aims to encourage collaboration and alliances among family-owned and controlled firms in the region. It provides its members specialised education and helps them leverage business opportunities in the region and beyond. The forum seeks to bring a new focus on the business, social and cultural challenges facing family firms in the region. It promotes and sponsors research that helps advance the sustainable development of family businesses. It also works to raise public awareness of new developments within the family business sector. The Tharawat Family Business Forum has a governance structure designed to guarantee the transparency of its activities and its receptivity to high-quality inputs from both members and external experts. The members of Tharawat constitute an innovative and committed community of family-owned businesses, working together to improve collaboration, business growth, and prosperity.

Prominent speakers at the seminar included Sir Anthony Evans, Chief Justice of the DIFC Courts; Deputy Chief Justice Michael Hwang, Justice David Williams and Justice Sir Anthony Coleman. They were joined by HE Justice Ali Al Madhani and HE Justice Omar Al Muhairi, the first Emiratis appointed as DIFC Courts’ Judges, and some of Dubai’s leading legal professionals.

Titled “The Role of the DIFC Courts”, the seminar explored key features of the DIFC Courts including its legal framework, jurisdiction and the enforcement of its judgements throughout the world. The Courts’ landmark Small Claims Tribunal was also referenced, with its impressive record of having resolved 47 disputes this year, each in under 2 weeks.

Established in 2004, the DIFC Courts were created to guarantee the highly secure business and contracting environment of the DIFC. The Courts comprise eminent judges from around the world, operate to the highest international standards and are fully staffed to handle all cases within their jurisdiction, whether small claims of under AED100,000 or claims involving sophisticated international financial transactions.

Sir Anthony Evans, Chief Justice of the DIFC Courts said: “The seminar offered us an opportunity to interact closely with Dubai’s legal community and promote a greater understanding of the authority and functioning of the DIFC Courts. At a time when developed markets are going through a turbulent period, legal institutions like the DIFC Courts, which provide globally benchmarked judicial procedures, are essential to maintaining a stable economic environment in the region. This seminar offered an invaluable opportunity for legal professionals to deepen their knowledge of the DIFC Courts’ frameworks and processes that facilitate secure and just dispute resolution.”

About the DIFC:

The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centres of Hong Kong and London and services a region with the largest untapped emerging market for financial services. In just four years, over 750 firms have registered at the DIFC. They operate in an open environment complemented with world-class regulations and standards. The DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards. (www.difc.ae)

About the DIFC Courts:
The DIFC Courts is an independent judicial system established under laws enacted by The Late His Highness Sheikh Maktoum bin Rashid Al Maktoum, Ruler of Dubai in September 2004. It has jurisdiction over matters arising from and within DIFC. The DIFC Courts is an independent court system set up to uphold the provisions of DIFC laws and regulations. They provide the protection of an English language, common law court system, with an internationally renowned bench of judges versed in commercial disputes, to ensure transparent and efficient justice in civil and commercial matters in or relating to the Centre.

The overriding objective of the DIFC Courts is to deal with cases justly and to help parties settle cases.

Designed to deal specifically with the sophisticated transactions conducted within the DIFC, the DIFC Courts provide comprehensive legal redress in civil and commercial matters. Along with offering the highest standards in legal dispute resolution and a judicial system based on international best practices, DIFC Courts provide a small claims tribunal which is unique in the region. In January this year, DIFC Courts appointed the first female judge in the UAE and announced that two Emirati judges had become common law International Judges. (www.difccourts.ae).

The Executive Education Centre at the Schulich School of Business, York University in Toronto, Canada (SEEC) today announced it is partnering with the DIFC Centre of Excellence to provide executive education programmes for the Middle East, North and Eastern Africa, the Caspian and the Indian sub-continent,.

The partnership will enable SEEC to offer a wide range of programmes from the Dubai International Financial Centre (DIFC) starting with professional development courses in Operational Risk Management, Real Estate Management and Project Management in March 2009.

H.E. Dr. Omar Bin Sulaiman, Governor of DIFC said, “Developing professional talent in the region is an integral part of DIFC’s mission to catalyse economic growth in the region. Rapid economic expansion has created an urgent need to build a large base of qualified professionals who can lead the region through the challenges of growth and change. We are keen to work with global institutions like Schulich School of Business to widen the opportunities for regional professionals to access world-class education opportunities.”

Alan Middleton, Executive Director, SEEC said: “The Schulich Executive Education Centre (SEEC) is very pleased to establish an alliance with an institution that is part of the vision of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai to create an environment for progress and economic development in the UAE and the wider region. We are also very pleased to contribute to the DIFC Centre of Excellence’s mission to build a talent pool of professionals for the region. We believe this partnership will bring significant benefits for the region’s business community.”

Faten Hani, CEO of the DIFC Centre of Excellence said: “With its vast expertise and long experience in providing executive education, the Schulich School of Business will add considerable value to the pool of world-class resources available at the DIFC Centre of Excellence. Partnering with leading global educational institutions like the Schulich School of Business is critical to our ability to realise our objective of providing executives in the region with the learning and development resources needed to thrive in a fast-paced economy.”

Consistently ranked among the top business schools globally and as the number one in Canada, the Schulich School of Business is a leader in education in the financial services sector. Delivered worldwide, SEEC’s executive and management development courses have a proven record of actively and successfully addressing the needs of its global clients.

The partnership will be officially launched on 24 November 2008 in Dubai at a reception jointly hosted by the DIFC Centre of Excellence and the Schulich School of Business Executive Education Centre. Alan Middleton, Executive Director, SEEC, along with Schulich faculty and administrators will be present to answer questions about the partnership and course offerings.

About Schulich:

Known as Canada’s “Transnational Business School,” the Schulich School of Business has built a strong reputation both at home and globally for richly diverse, creative, real world programs at the undergraduate, graduate, postgraduate and executive education levels. These include Canada’s first International MBA Program (IMBA), as well as the country’s first comprehensive offerings in areas such as Financial Services, Real Property Management and Arts and Media Administration. Its broad ranging strategic alliances in more than 45 countries, over 18,000 alumni working in more than 80 countries and satellite centres in China, India and South Korea has earned it a reputation of being a global, innovative and diverse business school and it is consistently ranked as one of the world’s leading business schools.

The Schulich Executive Education Centre (SEEC) operates under the world-class leadership and academic standards of the Schulich School of Business. It is one of only four schools to be ranked in the top tier of both executive education categories (Open Enrolment and Custom Programs). Innovative thinking, a wide global lens, cutting edge research and real world experience are the cornerstones of the Schulich Executive Education Centre. Thousands of management executives take part in public programs offered each year and over 500 customized programs are delivered to both public and private organizations across the globe.

In addition to two main administrative headquarters in Toronto, Canada, SEEC has operating offices in Beijing and Shanghai, China; representatives in Mumbai, India and Seoul, South Korea, and strategic alliances with Universities in Moscow and St. Petersburg, Russian Federation.

About DIFC:

The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centres of Hong Kong and London and services a region with the largest untapped emerging market for financial services. Since November 2004, over 650 firms have registered at DIFC. They operate in an open environment complemented with world-class regulations and standards. DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition, their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards. In March 2008, the City of London’s Global Financial Centres Index (GFCI) ranked Dubai as the region’s fastest growing financial hub. For more information please visit www.difc.ae.

Pharos Financial Group ranks as the world’s leading fund manager having a focus on Russia and the CIS with a successful track record of over 11 years. With offices in Moscow and now Dubai, Pharos Financial Group has produced superior absolute returns over the years while providing institutions and private investors an opportunity to gain exposure in the emerging markets of Russia and the CIS.

Founded in 1997 by US national, Peter M. Halloran, with seed capital from Soros Fund Management and CS First Boston, Pharos Financial Group currently runs three funds – the Pharos Russia Fund, the Pharos Small Cap Fund, and the Pharos Gas Investment Fund.

Prior to founding Pharos Financial Group, Mr. Halloran was the principal contributor toward building the #1 ranked CS First Boston equity and fixed income brokerage businesses in Russia and the CIS. He has been a leader in the development of the Russian capital markets since their inception in 1994, bringing more than $8 billion to the markets through debt, equity and private placements including Russia’s first local IPO and more than $2 billion of privatisation initiatives.

Peter Halloran said, “We are delighted to receive a license from DFSA, particularly as the first ever fund manager with a Russian/CIS focus to join DIFC. The entire process has been straightforward and we are grateful to the authorities for their guidance. DIFC has established the highest global regulatory standards, which help to ensure our acceptance as a reliable participant in the capital markets of the GCC.”
Mr. Halloran added, “Our move to DIFC was an easy strategic decision given our expectation that the need for quality asset management in the GCC will grow substantially over the next decade. Pharos intends to fill the niche as the market leader in emerging markets fund management. Already we have seen tremendous appetite from GCC investors for our Russian-focused investment opportunities.”

Welcoming Pharos to DIFC, Nasser Al Shaali, CEO, commented, “We welcome Pharos Financial Group to the Dubai International Financial Centre..DIFC will provide Pharos with a supportive environment to advance their business growth in the Middle East. The world-class regulatory framework in DIFC will give them additional credibility as a specialist emerging market fund manager.”
The Pharos investment team brings more than 90 years of combined expertise in emerging markets to its new operations in DIFC. Moreover, Pharos has sat on 40 seats of Russian company boards. Two Pharos Funds were ranked among the top 15 hedge funds globally by Bloomberg and Eurohedge. Currently, the three Pharos funds are ranked 1-2-3 among best performers in Russia this year.

About the DIFC:

The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centres of Hong Kong and London and services a region with the largest untapped emerging market for financial services. In just four years, over 700 firms have registered at the DIFC. They operate in an open environment complemented with world-class regulations and standards. The DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards.

The Credit Suisse delegation included Brady W. Dougan, the Chief Executive Officer of Credit Suisse; Walter Berchtold, the Chief Executive Officer of Credit Suisse Private Banking, Robert Shafir, Chief Executive Officer Credit Suisse Asset Management and the Chief Executive Officer for the Americas Region; Paul Calello, the Chief Executive Officer of Credit Suisse Investment Banking; Eric Varvel, Chief Executive Officer of Europe, Middle East and Africa for Credit Suisse; Bruno Daher, Co-Chief Executive Officer of Credit Suisse in the Middle East and Head of Private Banking for Credit Suisse in the Middle East and Indian Subcontinent; and Bassam Yammine, Co-Chief Executive Officer of Credit Suisse Middle East and Head of Investment Banking and Asset Management for Credit Suisse in the Middle East.

His Excellency Dr. Omar Bin Sulaiman, Governor, Dubai International Financial Centre said: ‘Credit Suisse has been a prominent part of the financial services community in DIFC for the last three years. During our meeting with the Credit Suisse delegation, we discussed various ways in which we could work together to help global financial markets tide over the crisis it is currently facing. This meeting served to further strengthen our relationship with the organisation, which is one of the most respected names in the global financial industry. We look forward to continue supporting them in their effort to grow their business in the region.

Credit Suisse started operations in DIFC after it was awarded a licence by the Dubai Financial Services Authority (DFSA) to operate as a bank on 1 April, 2005.

As one of the world’s leading banks, Credit Suisse provides its clients with private banking, investment banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland.

Credit Suisse is very committed to the Middle East and has been involved in the region for four decades. It was one of the first foreign banks to establish operations in the area and today has offices in Dubai, Abu Dhabi, Doha, Riyadh, Beirut, Cairo, and Manama. Most currently, the Bank’s joint venture in Saudi Arabia has been renamed Credit Suisse Saudi Arabia and has been granted a commencement letter for all activities authorized by the Capital Market Authority of the Kingdom of Saudi Arabia.

Credit Suisse is active in over 50 countries and employs approximately 50,000 people. Credit Suisse is comprised of a number of legal entities around the world and is headquartered in Zurich. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York.

About the DIFC:

The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centres of Hong Kong and London and services a region with the largest untapped emerging market for financial services. In just four years, over 700 firms have registered at the DIFC. They operate in an open environment complemented with world-class regulations and standards. The DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards.