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UAE to host IBBC conference about opportunities in Iraq this week

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The Iraq Britain Business Council (IBBC) is organizing the IBBC Autumn Conference ‘Growing Opportunities’, on December 13, 2024, at Taj Hotel Dubai. H.E. Abdullah Al Saleh, Undersecretary of the Ministry of Economy UAE, will grace the occasion to deliver the welcome address.

Talking about the conference, Christophe Michels, Director of IBBC  said, “The IBBC Autumn Conference in Dubai 2024 offers unparalleled networking opportunities with top industry leaders and policymakers shaping the future of business in Iraq, UAE and beyond. Attendees will gain invaluable insights and strategies for success in one of the world’s most dynamic economic hubs.”

Iraq is undertaking the most significant expansion in thirty years as the stability in country improves with investment opportunities currently in the region of $400bn, in Infrastructure, housing, and the great Dry Road initiative from Al Faw port to Turkey. Iraq’s GDP is set to rise 5.3% in 2025 (IMF) and stock exchange funds up 17% this year. The national census has recorded 45 million people and is therefore the largest Middle East market.

UAE is also supporting the tech start up ecosystem in Iraq for a new incubator for AI and Fintech, set to be announced in 2025 .

The Conference is hosting most of Iraq’ s leading businesses, including key energy companies, BP, Shell, BGC, their construction partners like Wood group, KSA, GE, Siemens and Financial services giants like SC, IFC and Central Bank of Iraq.

Of note for UAE businesses is the emergence of a new Maritime agency, being developed by IBBCs maritime companies, that will serve the Al Fawr port and Iraq’s ambitions to trade more regionally. Mr Tugrul Titanoglu, CJ-ICM; Mr Ahmed Shaban, Chairman of the IBBC Maritime Committee; Dr Abduladheem Kareem Khalil, Iraq Supreme Maritime Authority;and Al Zaman group will all be present for conversations.

Education too, is evolving to meet the needs of a modern Iraq, and the Minster for higher education is speaking on a dedicated day 12th December, covering primary to higher level with a full house and UK and Iraqi Universities and schools attending.

Mr Vikas Handa, chairman of the conference, says, “For business and investors seeking growth Iraq offers strong returns in a stable environment and is affirming its position as a driver of Middle East opportunity. Meet the people making this happen on 12 and 13th December at the Taj Hotel. We welcome the UAE and all businesspeople.”

Announcements

Dubai Chambers launches one-stop digital platform to help businesses start, grow and expand

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Starting and growing a business in Dubai is set to become easier with the launch of Business in Dubai, a new digital platform by Dubai Chambers that brings together essential corporate services in one place.

Designed as a single gateway for companies, the platform connects businesses with trusted service providers, helping them access everything from financial solutions to technology, marketing and certification services without having to navigate multiple channels.

The initiative aims to simplify business operations while strengthening Dubai’s position as one of the world’s most competitive destinations for investment and entrepreneurship.

What does the platform offer?

The Business in Dubai platform currently provides 65 corporate services through seven accredited partners, offering companies a wide range of support as they establish or expand their operations in the emirate.

The services are grouped into four key categories:

  • Financial services
  • Marketing and business growth services
  • Technology services
  • Testing, inspection and certification services

The current network of partners includes ZENDATA Cybersecurity, FAST Ventures, Mamo, OCTA, SGS Gulf Limited, Vault, and Pemo.

Helping businesses grow

Dubai Chambers said the platform has been designed to save companies time and resources by bringing multiple business services under one digital roof.

Khalid AlJarwan, Executive Vice President of Commercial and Corporate Services at Dubai Chambers, said the initiative reflects the organisation’s commitment to creating an environment that supports business growth both locally and internationally.

He said the platform will strengthen Dubai’s investment ecosystem by making it easier for companies to access the services they need to scale their operations and contribute to the emirate’s long-term economic development.

Boost for the digital economy

Saeed Al Gergawi, Vice President of Dubai Chamber of Digital Economy, said the platform will particularly benefit businesses operating in the digital economy by simplifying access to trusted service providers.

He added that the initiative creates a more flexible and efficient business environment, enabling entrepreneurs and companies across different sectors to focus on growth rather than administrative processes.

A single digital gateway

By consolidating key business services onto one platform, Dubai Chambers aims to reduce the time and effort companies spend searching for service providers, allowing them to concentrate on innovation, expansion and day-to-day operations.

The launch forms part of Dubai’s wider efforts to strengthen its business ecosystem and reinforce its position as a leading global hub for trade, investment and entrepreneurship.

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What the new DIFC investment fund proposals mean for investors

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Dubai’s financial regulator is planning the biggest update to the Dubai International Financial Centre (DIFC) investment fund rules in more than a decade.

The Dubai Financial Services Authority (DFSA) has launched a public consultation on a wide-ranging package of reforms designed to modernise the DIFC’s investment fund framework, simplify regulations for fund managers and strengthen investor protection.

Here’s what you need to know.

Why is the DFSA changing the rules?

The DFSA says the investment fund industry has evolved significantly since the current framework was introduced in 2006.

The proposed reforms aim to:

  • Modernise regulations to reflect today’s investment market.
  • Reduce unnecessary compliance requirements.
  • Make it easier for fund managers to operate.
  • Maintain strong investor protection.
  • Align DIFC regulations with international best practices.

What are the proposed changes?

The consultation includes several key proposals:

More flexible rules for private investment funds

The DFSA plans to replace rigid classifications for specialist private funds with a more flexible framework that can better accommodate modern investment strategies.

Simpler licensing for fund managers

Investment managers may no longer need separate licences for certain activities, such as arranging investments or dealing on behalf of clients, as these would be covered under an existing asset management licence.

Updated rules for master-feeder funds

The regulator also wants to modernise regulations governing “master-feeder” fund structures to reflect current market practices better.

Removal of the external fund manager regime

The DFSA proposes removing the external fund manager framework as more firms are now seeking direct authorisation from the regulator.

More investment opportunities for employees

Employees could be given greater flexibility to invest in private funds managed by their own employers, either directly or through dedicated investment vehicles.

Technical improvements

The consultation also proposes several technical amendments to improve clarity and consistency within the Collective Investment Law.

Could tokenised investment funds become a reality?

The consultation also seeks industry feedback on regulating tokenised investment funds.

Tokenisation uses blockchain technology to represent ownership units digitally, potentially making investment funds more efficient and accessible.

At this stage, the DFSA is only gathering feedback and has not proposed formal regulations.

Will retail investors get access to more investment opportunities?

Another topic under discussion is the possible introduction of a long-term investment fund regime.

If developed in the future, it could allow retail investors to access certain long-term assets—such as infrastructure projects or private market investments- that are currently limited to professional investors.

No regulatory changes have been proposed yet; the regulator is first seeking industry views.

Who can provide feedback?

The consultation is open until September 7, 2026.

The DFSA is inviting comments from:

  • Fund managers
  • Asset managers
  • Fund administrators
  • Legal advisers
  • Auditors
  • Compliance professionals
  • Other participants in the DIFC investment funds industry

The proposals form part of Dubai’s wider efforts to strengthen its position as a leading regional hub for wealth and asset management while ensuring regulations remain modern, proportionate and investor-focused.

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Good news for businesses: Sharjah slashes fees and fines

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Businesses in Sharjah can now benefit from a range of temporary fee reductions after Sharjah Police unveiled a new package of incentives aimed at easing costs and supporting the emirate’s business community.

The measures, introduced in line with a decision by the Sharjah Executive Council, include 50% discounts on several security-related fees, along with reduced fines and lower training costs for companies.

What discounts are available?

Under the new initiative, eligible businesses will receive:

  • 50% off security permit renewal fees for commercial activities
  • 50% off security system subscription fees
  • 50% reduction on eligible violations and fines
  • 20% off mandatory training programme fees for companies

Sharjah Police said the initiative is designed to support commercial establishments, encourage business sustainability and further strengthen the emirate’s position as an attractive destination for investment.

How long will the discounts last?

The incentives will be available for three months from the date the decision comes into effect.

Businesses seeking more information about the discounts and eligibility can contact the Sharjah Police Call Centre on 901.

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