Jersey law and financial services firm Mourant has sent members of its private wealth team to Dubai to help develop a training programme on trust practice, based on the Dubai International Finance Centre legislation. The DIFC established its own trust legislation in 2005 and the first home grown trust company is expected to be licensed later in 2007.

The programme is a joint venture between Mourant Private Wealth and Emirates law firm Al Tamimi, undertaken with the support of the DIFC, which is keen to develop a home grown trust industry. Those on the course included in-house legal counsel, senior relationship managers from private banks and family office representatives from local Dubai organisations.

Sarajane Kempster, director of business development at Mourant Private Wealth, said:
“We see Dubai as complementary to our own trust offering available from Jersey and other jurisdictions.”

Mourant has already undertaken sales training for leading financial institutions in both Abu Dhabi and Kuwait and the trust programme is an extension to this training initiative, helping to emphasise the Jersey based firm’s commitment to the region.