Raja Al Mazrouei speaks during the event in Dubai.
Dubai has risen in the ranks of the Global Financial Centres Index, GFCI, to the eighth position, representing its highest ever-ranking.
The Dubai International Financial Centre, DIFC, announced a record growth in 2019, registering an addition of 493 new businesses for the year. The total number of firms in the Centre reached 2,437, up 14 per cent from 2018, with a total of 32 per cent growth since 2017.
To support the Dubai Free Zones Council economic stimulus package, Dubai International Financial Centre (DIFC) proposes implementing five initiatives over the next three months.
Tower A, the Elite building of Bloom Towers, consists of 255 premium residential units ranging from one-bedroom to three- bedroom apartments with sizes from 700 to 1,600 sqft available to purchase with prices starting from Dhs750,000, offering homeowners and investors great opportunities to secure exceptional long-term value and a guaranteed 8% return on investment for three years.
The impairment provisions for the eight banks increased by about 103 per cent during the first nine months of 2020 to Dhs16.6 billion, compared to Dhs8.2 billion for the same period in 2019.
The Federal Tax Authority (FTA) Board of Directors, chaired by Sheikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, and Chairman of the Authority’s Board of Directors,