Ahmed al-Tayer, a former finance minister, became governor at the Dubai International Financial Centre last year. The close adviser to Dubai’s ruler is tasked with maintaining the centre as the region’s financial services hub. Mr Tayer also plays a major role in dealing with the emirate’s usd100bn debt mountain. He was interviewed in Dubai on June 22.
Financial Times: The DIFC has been going through a process of review and restructuring following the global financial crisis. Are you planning a change of focus?
Ahmed al-Tayer: The DIFC is five years-old and as a centre in the Middle East, between Singapore and Hong Kong, and international centres like London or Frankfurt – this is a region rich in financial resources and in the past these resources were being invested abroad. There was a need to have a centre in order to create an environment, an ideal environment, of low taxes, to attract international companies, financial companies, and to attract companies that serve them, like law firms, accounting firms, Islamic businesses and asset management firms.
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