PR97730

DUBAI, UAE, Sept. 8, 2022 /PRNewswire=KYODO JBN/ --

Dubai International Financial Centre (DIFC), the leading global financial

centre in the Middle East, Africa and South Asia (MEASA) region, delivered

robust growth in the first half of 2022. The Centre's strong performance

reinforces DIFC's Strategy 2030 to drive the future of finance, differentiate

Dubai as a global hub for financial institutions, FinTech and innovation

companies, and increase its economic contribution to the emirate.

A total of 537 new entities registered during the first half of this year,

representing an 11 per cent year-to-date increase. The total number of

companies operating in DIFC has gone up from 3,297 to 4,031 at the end of June

2022, an increase of 22 per cent year-on-year.  

The Centre is now home to 1,252 financial and innovation related companies, an

increase of 22 per cent from the same period in 2021. FinTech and innovation

companies jumped from 406 to 599, a 23 per cent increase year-on-year.

During the first half of this year, changes to DIFC laws and regulations

included amendments to its globally recognised data protection law. In

alignment with the country's vision to become a global benchmark in Open

Finance, DIFC established the region's first Open Finance Lab, following an

agreement with the Central Bank of the UAE. Furthermore, DIFC expanded its

Innovation Hub proposition by launching a global Venture Studios hub and

introducing a USD 100 million Venture Debt Fund.

The Centre also generated a new wave of interest in Dubai from US financial

services companies, following its successful roadshow with senior executives

from more than 100 American financial services and technology companies in

attendance. In addition, the Republic of Türkiye Roadshow witnessed a series of

strategic meetings with key clients and partners in Istanbul in a move to

create strong partnerships with companies in the Republic of Türkiye. DIFC also

held a successful roundtable in Tel Aviv, Israel, with 30 prospective clients

across a wide range of businesses in the financial services sector.

Amongst its 4,031 entities, DIFC is currently home to 17 of the world's top 20

banks, 25 of the world's top 30 global systemically important banks, five of

the top 10 insurance companies, five of the top 10 asset managers, and many

leading global law and consulting firms.

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Source: DIFC