Dubai International Financial Centre (DIFC), one of the leading global financial centres in the Middle East, Africa and South Asia (MEASA) region, has announced a strategic partnership with Emirates NBD, a leading banking group in the Middle East, North Africa, and Türkiye (MENAT) region, to empower family businesses and UHNWIs within the DIFC Family Wealth Centre.
Under the terms of the strategic agreement, Emirates NBD Private Banking will collaborate with DIFC Family Wealth Centre (DFWC) to address the evolving needs of ultra-high-net-worth individuals (UHNWIs) and their family businesses by providing tailored frameworks, robust governance models, tax structuring, and succession planning to ensure long-term sustainability and legacy preservation.
Recognising the critical need for specialised support, Emirates NBD will leverage the world-class infrastructure of DIFC to provide bespoke educational programmes, workshops, and other resources focusing on key topics including best practices in family governance, succession planning, and family office structures.
The strategic agreement aligns mutual objectives and underscores a shared commitment to foster a robust ecosystem for family enterprises. This will add significant value to Emirates NBD Private Banking clients and members of the DIFC Family Wealth Centre, while reinforcing DIFC’s position as a thought leadership platform and Emirates NBD’s role as a trusted banking institution.
Dubai is the region’s only financial centre to be a global leader with broad and deep capabilities, according to the Global Financial Centres Index. Being a leading national bank, Emirates NBD recognises the value of family businesses in the economy. The bank’s initiatives primarily concentrate on succession planning, wealth management, and providing specialised banking services tailored to the needs of these enterprises.
Currently more than 1,250 family-related entities, including many global private-client institutions, are housed within DIFC. Collectively, the top 120 families based in DIFC manage over USD 1.2 trillion in assets globally, contributing significantly to the UAE’s economy, where family businesses drive around 60 per cent of GDP and employ 80 per cent of the national workforce.
His Excellency Arif Amiri, Chief Executive Officer of DIFC Authority, said: “Family businesses from around the world choose Dubai and DIFC as a trusted platform to grow, innovate, and plan for the future. As a global hub for family enterprise, Dubai offers a progressive environment and DIFC provides world-class structures and advisory access that enable families to safeguard wealth and build enduring legacies. Our collaboration with Emirates NBD reinforces DIFC’s commitment to enabling sustainable family wealth strategies through robust governance and succession planning frameworks.”
Mohammad Al Bastaki, Group Head of Private Banking and Wealth Management, said: “Emirates NBD Private Banking is proud to join forces with DIFC. The agreement marks a significant milestone in our commitment to our private banking clients. We understand the unique complexities and aspirations of family businesses, and by collaborating with DIFC, we are providing a holistic platform to family-owned enterprises that offers unparalleled expertise in governance, succession, and wealth preservation. This alliance underscores our dedication to empowering our clients to navigate the future with confidence, ensuring their legacies endure and thrive across generations.”
DIFC provides a wide range of tools and structures that supporting family businesses and ultra-high-net-worth individuals (UHNWIs) can utilise to meet their different needs succession planning, wealth preservation, asset protection, governance, cross-border investments such as holding structures, family offices, and foundations. The partnership also provides direct access to resources and tailored products from Emirates NBD Private Banking. By offering sound family governance and succession planning solutions, including the Next Generation programmes, Emirates NBD Private Banking endeavours to empower these enterprises, while helping them prepare and adopt strategies that will ensure business continuity and preserve their family values for the future.
