FSS 2020 International Conference “Dubai International Financial Centre” An Overview, June 2007

1. FSS 2020 International Conference “Dubai International Financial Centre” An Overview, June 2007

2. Why Dubai? • Political and Economic stability • Proactive government policies aimed at economic diversification and liberalization • Full government support for new global initiatives • Business Centric • Recognized as a regional hub with a successful and credible track record • No direct taxes on corporate profits/personal income • 100% repatriation of capital and profit • Diversely skilled, well educated, multi cultural & multi lingual workforce • Modern Infrastructure in accordance with the most efficient international standards. Investment in infrastructure has resulted in lower cost of doing business, logistics and delivery of services. • Modern telecommunication networks and highest internet penetration and utilization rates in the MENA region • A destination of choice for FDI with over 150 multi-national companies of the Global 500, including the Top 10 have an established presence in Dubai.

3. Dubai Strategic Plan 2015 – Horizon 1 Horizon 3 Dubai 2015 “Seed investments for future competencies” Higher impact on Knowledge Economy • Education • Emerging Sectors • Biotech • Nanotech • R & D Horizon 2 “Apply core competencies to new areas” • Technology • Enabled services • Telecom • Media • IT • Energy • Healthcare • Financial Horizon 1 “Do what we do best, better” Trade Logistics Transportation Tourism Lower impact on Knowledge Economy Long Term Impact Short Term Impact

4. Why Dubai? • Excellent Global Connectivity • World’s third largest active re-export hub after Singapore & Hong Kong • Jebel Ali is the world’s largest man-made port, home to 5,500 companies from over 120 countries • Dubai Ports ranked as 9th Top Container Port Worldwide servicing more than 120 shipping lines with 7.62 million TEUs handled in 2005. • Dubai Airport connecting 113 airlines and serving over 194 destinations In 2006 airport traffic hit 28.7 million passengers; expected to grow to 60 million by 2010 Source: Dubai International Airport, Department of Civil Aviation Dubai, DP World

5. Why Dubai? • Strategic central location • Favourable tax structure • Competitive business environment • Quality of life • Pro-business government • Language skills • Dynamic business environment • Flexibility labour market • Advantageous time zone • World-class Infrastructure • Proximity to existing operation/production site Dubai is a preferred location for regional and global HQs of many transnational and multinational corporations. Dubai ranks strong on all relocation measures.

6. Dubai Strategic Plan 2015 - Horizon 2 Horizon 3 Dubai 2015 “Seed investments for future competencies” Higher impact on Knowledge Economy • Education • Emerging Sectors • Biotech • Nanotech • R & D Horizon 2 “Apply core competencies to new areas” • Technology • Enabled services • Telecom • Media • IT • Energy • Healthcare • Financial Horizon 1 “Do what we do best, better” Trade Logistics Transportation Tourism Lower impact on Knowledge Economy Long Term Impact Short Term Impact

7. Cluster Based Economy

8. Dubai Strategic Plan 2015 - Horizon 3 Horizon 3 Dubai 2015 “Seed investments for future competencies” Higher impact on Knowledge Economy • Education • Emerging Sectors • Biotech • Nanotech • R & D Horizon 2 “Apply core competencies to new areas” • Technology • Enabled services • Telecom • Media • IT • Energy • Healthcare • Financial Horizon 1 “Do what we do best, better” Trade Logistics Transportation Tourism Lower impact on Knowledge Economy Long Term Impact Short Term Impact

9. Dubai 2015: Strategy Highlights • Economic Development Aims: • Sustain a GDP growth rate of 11% per annum • Achieve a GDP per capita of USD 44,000 • Increase productivity by 4% per annum • Move existing sectors of strength to new frontiers, both domestically and internationally

10. DIFC Region - A Favourable Economic Environment • 42 countries spanning the Middle East, North & Eastern Africa, the Caspian and the Subcontinent • Population of 2.2 billion people (2005) • US$2.3 trillion combined GDP (2005)1 • Financial wealth of high net worth individuals in the Middle East region is estimated to be growing at 19.7%, surpassing the pace of growth of that in North America, Europe and Asia Pacific.2 • Regional wealth invested abroad: $1.8 trillion • DIFC Region Total Exports > US$1 trillion (2006) • DIFC Region Total Imports > US$850 billion (2006)1 1 Source: EIU Data 2 Source: Merrill Lynch Capgemini World Wealth Report 2006

11. A Window to Regional Opportunities… • High oil prices, increased government spending and abundant liquidity have generated an investment and consumption boom that is stimulating growth in the region. • Regional governments pursuing diversification strategies, adopting economic reforms, state divestment & privatisation plans, resulting in attractive prospects across a variety of sectors. Meed Projects. Data as of May 24, 2006

13. Office of the President of the DIFC headed by DIFC Governor (Dr. Omar Bin Sulaiman) Dubai International Financial Centre Judicial Authority (DIFC Courts) Dubai International Financial Centre Authority (DIFC Authority) Dubai Financial Services Authority (DFSA) DIFC Investments Registrar of Security Registrar of Companies Hawkamah Corporate Governance Institute (CGI) Dubai International Financial Exchange Limited (DIFX) DIFC- Structure

14. DIFC- Value Proposition A Clear & Transparent Legislation DFSA: World Class Regulations DIFC Courts: Independent Judicial System A dedicated financial services cluster DIFX: Liquid & Transparent International Exchange Hawkamah Institute for Corporate Governance Window to a wealth of opportunities DIFC Education Strategy: Access to Talent DIFC Resource Centre: Business Support Services

15. Sectors of Focus • Banking Services • (Investment Banking, Corporate Banking & Private Banking) • Capital Markets • (Equity, Debt Instruments, Derivatives and Commodity Trading) • Asset Management & Fund Registration • Islamic Finance • Insurance & Reinsurance • Business Processing Operations • Ancillary Services

16.  Tokyo Sydney A Liquid & Transparent International Exchange International Issuers seeking Regional Investors Regional Investors seeking International Investments A Platform for… Regional Issuers seeking International Investors International Investors seeking Regional Investments Liquidity secured through regional and international liquidity providers and market makers

17. Insurance Broking & Mgmt Re-Insurance Islamic Finance Asset Mgmt & Fund Registration Banking Services Zurich AIG Alico JLT Risk Solutions Takaful Re Alliance Re Scottish Re Injazat Crescent Standard Arcap Inssef Unicorn Inv. Bank Amanah Fin. Ser. SEDCO Ansbacher SHUAA Capital Franklin Templeton Mellon Global Invs. Merrill Lynch EFG Hermes Deutsche Bank Credit Suisse HSBC Standard Chartered Barclays Bank Citigroup Non-Regulated ASPs Bloomberg IFC SWIFT Dubai Int’l Capital Moody’s Schlumberger TOTAL=352 Al Tamimi & Co. KPMG Grant Thornton Clifford Chance Allen & Overy Linklaters DIFC Achievements Data as of January 4th 2007

18. A Strong Ramp Up of Members… for more information please refer to www.difx.ae

19. 1990 DIFC

20. After 2000

21. Central Park Park Boulevard Central District Gate Boulevard Park Avenue Gate District Gate Village District DIFC District

22. DIFC District

23. DIFC Population Potential Data based on Internal estimates

24. A Cosmopolitan District • A self-contained ultra-modern financial district, housing offices, serviced apartments, hotels, shops and restaurants. • 4 million square feet of ultra-modern prime office space, designed to meet, and exceed, the demands of the world’s most sophisticated international financial institutions. • 32,698 underground car parking spaces and an automated transit system which will circumnavigate the entire district. • World-class infrastructure with access to an excellent and sophisticated telecommunication infrastructure, facilitating easy communication with U.S., Europe and Asia. • Locating in a dedicated financial services hub with access to reputable professional services and operational support firms, and in close physical proximity to a wealth of business opportunities.