Paris Europlace, Dubai in financial cooperation deal

Daily News Egypt:Paris Europlace said Thursday that it has signed a cooperation agreement, its first in the Gulf region, with the Dubai International Financial Centre (DIFC).
"This is an agreement that is really important," Arnaud de Bresson, managing director of Paris Europlace — an organization tasked with promoting Paris as a financial market — told AFP.

The Memorandum of Understanding signed with the DIFC aims at "developing joint actions in ... financial markets, asset management, Islamic finance, payment systems, research and education, and regulation," Europlace said.

Europlace aims through cooperation in the field of asset management to "deepen the exchange" with Gulf investment funds, mainly sovereign funds, de Bresson said.

The Gulf region is home to a number of heavyweight sovereign funds, especially the fund owned by the wealthy emirate of Abu Dhabi, the capital of the United Arab Emirates....Continue Reading