Dubai International Financial Centre (DIFC) has announced strong growth in its community, with new companies from all over the world joining during the first half of 2018.
The total number of active registered companies in DIFC reached 2,003 at the end of June, up eight percent from 1,853 as of the end of December 2017 and 14 percent year on year from 1,750.
The sustained growth in the number of companies undertaking business from DIFC now means that 614 companies are regulated by the DFSA, of which 493 are financial services firms.
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, deputy Ruler of Dubai and president of Dubai International Financial Centre said that DIFC continues to play a "highly positive and impactful" role in Dubai’s economic development and diversification.
"We are committed to further enhancing these partnerships as we continue to provide our growing community with an integrated platform for growth," he said.
Arif Amiri, CEO of the DIFC Authority, added: "DIFC is pleased to report an impressive start to 2018. The new clients who have opened in DIFC range from FinTech start-ups who are supported by our vast ecosystem, through to global industry giants."
DIFC announced three new strategic initiatives in April that aim to support economic growth in Dubai and cement its global status as a competitive business destination.
They focus on attracting foreign direct investment, particularly from south-east Asia, enabling Dubai Government entities to complete financial services within DIFC, and facilitating the provision of financial products through Dubai.
Additionally, DIFC has made further enhancements to its wealth management platform earlier this year with the enactment of two new laws - the Trust Law, which provides an appropriate environment for the operation of trusts in DIFC, and the Foundations Law, a completely new regime to provide greater certainty and flexibility for private wealth management and charitable institutions in line with international best practice.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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