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New Board Appointments Strengthen DIFX Growth Strategy

PUBLISHED ON 10-Nov-2007
New Board Appointments Strengthen DIFX Growth Strategy
The Dubai International Financial Exchange (DIFX) has strengthened its Board with the appointment of four new Directors, as it prepares for an expansion in listings and further participation in international and regional exchange consolidation.

The new Directors are Maha Al-Ghunaim, Chairperson and Managing Director of Global Investment House; Mohamed Bin Brek, Chief Executive of Dubai Properties; Per E. Larsson, Chief Executive of Borse Dubai and of the DIFX; and Gerald Lawless, Executive Chairman of Jumeirah Group.

Soud Ba’alawy, Chairman of the DIFX, said: “These appointments bring a wealth of international and regional talent to the exchange. Their financial services and business expertise will enhance the rapid developments underway at the DIFX as the international exchange serving the region between Western Europe and East Asia, fully integrated into the global capital markets.”

The DIFX is a platform for wholesale and individual investors to access major equity listings. It is the largest exchange in the world for Sukuk (Islamic bonds) and the only exchange in the GCC region to list structured products.

Per E. Larsson said: “The DIFX is preparing for substantial new listings as well as adding derivatives (subject to regulatory approval) and exchange-traded funds to its Market of Markets platform. While driving the development of the capital markets in its own region, the DIFX will further expand its links with other exchanges internationally and regionally for the benefit of issuers and investors.”

Saad Abdul Razak and Adel Al Shirawi, who are members of the Board of Borse Dubai, have stepped down from the DIFX Board after successfully assisting the integration of the DIFX into Borse Dubai. Borse Dubai is a holding company created in August 2007 to expand Dubai’s position as a global capital markets hub.

The Boards of both Borse Dubai and of the DIFX are carefully streamlined to provide effective leadership in the quickly developing financial services environment.

Ends

Full DIFX Board:

Soud Ba’alawy (Chairman)
Maha Al-Ghunaim
Bisher Barazi
Mohamed Bin Brek
Essa Kazim
Per E. Larsson
Gerald Lawless
George Möller
Shadi Sanbar

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