DIFC hosts over 250 companies
- 10 Jan 2023
Arif Amiri, CEO of Dubai International Financial Centre (DIFC) Authority, affirmed that the centre has become a major engine for economic growth in Dubai and the UAE, with its contribution of about 5 percent of the value of the nominal GDP of the emirate of Dubai.
In an interview with the Emirates News Agency (WAM), Amiri said that the centre is the largest in wealth and asset management in the region, with more than 250 companies managing assets worth more than $450 billion and more than 100 international funds operating locally.
According to estimates, the contribution of financial companies operating from DIFC to the financial services sector in the country exceeds 13 percent of the nominal GDP of the emirate of Dubai during the year 2021, he added.
He stated that the centre is currently one of the most prominent financial centres in the world and the leading financial centre in the Middle East, Africa and South Asia (MEASA) region, which includes more than 72 countries with a population of approximately 3 billion people, and an estimated gross domestic product of US$8 trillion.
Amiri pointed out that the centre maintained its leading position among global financial centres, as Dubai ranked first in the Middle East and among the top 20 globally on the Global Financial Centres Index for 2022, stressing that DIFC is one of the most advanced financial centres in the world, in addition to being the largest financial system in the region.
He added that among the 4,031 companies registered in DIFC, the centre hosts 17 of the top 20 banks in the world, 25 of the 30 most important banks of systemic importance globally, 5 of the top 10 insurance companies, and 5 of the top 10 asset management companies, and many other leading law and consulting companies at the global level.
Amiri stated that DIFC enjoys a pioneering operating environment and legal and regulatory frameworks that are in line with the best international standards, in addition to the abundance of innovative offers and the depth of its administrative system.