Middle-east Arab News Opinion | Asharq Al-awsat

Dubai's DIFC Eases Rules to Encourage Acquisitions - ASHARQ AL-AWSAT English Archive
Select Page

DUBAI, (Reuters) – The Dubai International Financial Centre (DIFC) said on Friday it had issued new regulations enabling firms to form Special Purpose Companies (SPCs) in order to boost acquisitions in the Gulf Arab region.

The new regulations would enable companies to create SPCs for both Islamic and conventional transactions, the DIFC said in a statement.

“The enactment of the SPC regulations will provide a great boost for conventional and Islamic acquisitions and financings in the region,” Omar Bin Sulaiman, the DIFC governor, said in the statement.

Under the law, Special Purpose Companies (SPCs) would be exempt from some of the DIFC’s filing and disclosure rules, including the requirement to hold annual shareholder meetings and filing annual returns, the statement said.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

More Posts

Follow Me:
FacebookGoogle PlusYouTube