Total Solutions granted DIFC licence

DIFC expands support services available to financial institutions as Total Solutions Europe joins centre.

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By  Mark Johnson Published  December 15, 2004

European human resources and training consultant, Total Solutions Europe, has been granted a licence to operate as an Ancillary Services Provider (ASP) within the Dubai International Financial Centre (DIFC). The licence was the second ASP licence to be granted by the fledgling DIFC Financial Services Authority (DFSA) and the seventh licence overall. Total Solutions is a consultancy, training, interim management and resource solutions firm specialising in the financial services industry. It will be regulated by the DFSA on the compliance services it will offer to clients. DIFC director general, Dr Omar Bin Sulaiman said: “We at the DIFC are determined to offer a totally global environment to our operators and Total Solutions fits this requirement perfectly. The financial institutions operating here will find the same services and quality of support as in any other major financial centre, only with the added bonuses of an attractive fiscal regime and a rapidly growing financial sector”. Ejaz Vastani, managing partner (ME), will head the Total Solutions operation at the DIFC. He said: “The work we have done around the world has been for many of the top names in financial services such as Citibank, ABN Amro and JP Morgan. As we expand, it makes perfect sense for Total Solutions to be present in the DIFC, which we are confident will develop as a hub for global financial services business. The opportunity for firms such as these in Dubai is immense and our opportunity lies in the specialist support we can provide.” Total Solutions managing director, Robi Dattatreya, who was in Dubai to receive the licence, said: “The DIFC concept is one we fully support and we are pleased to have completed the registration process. We firmly believe that Total Solutions will assist DIFC’s ongoing development and growth aspirations by supporting the businesses that operate, and plan to operate, from within the centre. Our specialist focus on operations and technology solutions for financial services institutions will enable us to support businesses that relocate or expand existing operations here through consultancy, interim management and training.” Total Solutions’ client base includes some of the top global names in the financial world, including Citibank, State Street Bank and Trust Company, Deutsche Bank, ABN AMRO Bank, Commerzbank, Deloitte & Touche, ING Bank, and JP Morgan Chase.

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