Tuesday, 02 January 2024 12:17 GMT

Emirates NBD Aligns With DIFC To Strengthen Family Wealth Services


(MENAFN- The Arabian Post) Arabian Post Staff -Dubai

Emirates NBD has sealed a strategic partnership with the Dubai International Financial Centre aimed at offering enhanced wealth governance, succession planning and legacy-preservation services to ultra-high-net-worth families and family-owned enterprises. The collaboration will channel the capabilities of Emirates NBD Private Banking and the infrastructure of DIFC's Family Wealth Centre to meet the complex needs of family businesses within the jurisdiction.

Under the agreement, Emirates NBD will provide tailored governance frameworks, succession-planning blueprints, tax structuring, and bespoke advisory services designed for clients with significant wealth or business holdings. The bank intends to complement these offerings with educational workshops, governance-best-practice programmes and family-office structuring support - all delivered through DIFC's institutional facilities.

The move reflects growing demand in the Middle East for professionalised wealth-transfer and legacy-management solutions as substantial assets stand to pass to younger generations. Regional trends indicate about one trillion US dollars in assets are expected to be transferred within wealthy families by 2030, underscoring the urgency for robust governance structures.

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The Arabian Post

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