Standard & Poor’s has opened its first office in the Middle East at the Dubai International Financial Centre (DIFC).

This underscores our commitment to foster the development of deep and efficient capital markets across the region, linking local markets with the global economy, and enhancing transparency for investors, said an official spokesman.

The office, which will be managed by Standard & Poor’s regional manager for the Middle East Jan Willem Plantagie will offer Gulf financial market participants Standard & Poor's full range of independent research, credit and fund management ratings, and index products that together help them more effectively access capital, manage risk, and develop and manage investment products.

"Gulf companies are increasingly accessing the global capital markets to address their financing requirements and recognise the benefits that Standard & Poor's globally-recognised credit ratings can provide," said president of Standard & Poor’s Deven Sharma.

"As the largest provider of credit ratings on conventional debt and Islamic sukuk and takaful, and with a growing array of Shariah-complaint equity indices on offer, Standard & Poor's is well placed to support the growth of the Gulf’s debt and equity markets, expand its role as a global hub for financial services, trade and investment, and support the development of Islamic finance beyond its historical boundaries,” he added.

"As one of the world’s foremost providers of independent credit ratings, indices, risk evaluation, investment research and data, Standard & Poor’s plays an invaluable role in the global financial arena, providing decision-makers with the intelligence they need to feel confident about their decisions,” said CEO of the DIFC Authority Nasser Al Shaali. – TradeArabia News Service