Dubai International Financial Centre (DIFC), the onshore hub for global finance, recently discussed the economic crisis as well as compliance and benchmarking at financial hubs with a globally recognised expert in transparency issues.

Lucinda Low, who is also an expert on US and international anti-corruption laws, and American Consul General Justin Siberell recently toured the DIFC District and later held discussions with senior DIFC officials.

DIFC officials provided an overview of the organisation’s strategy and vision, and pointed out that DIFC is the fastest growing financial hub in the world with its business community now having over 800 institutions.

Abdulla Mohammed Al Awar, chief executive officer, DIFC Authority, said: “The visit of Low, a global expert on transparency and accountability, gave us an opportunity to highlight the efficient and best-of-breed international legal system that governs all activities and member firms at DIFC.”

“It was also an excellent opportunity to discuss the opportunities for cooperation with the financial industry of the US, many of whose major players are well known to Low,” Abdulla added.

DIFC officials expressed hope that Lucinda Low, who is a partner in the Washington office of Steptoe & Johnson, could bring her considerable experience in helping advance the DIFC-Hawkamah led initiative to help improve transparency in the DIFC Region.

Low later gave a presentation to a DIFC audience on “The Development of International Standards Regarding Transparency and Accountability in International Business and Government”.

Low said: "Developing and implementing international standards of transparency and accountability is critical to success in today’s global marketplace.”

“I was pleased to visit DIFC to see first-hand the accomplishments of this global financial hub, and to speak with DIFC and Hawkamah leadership about their important regional initiatives to improve transparency,” she added. – TradeArabia News Service