Financial leaders eye confidence in UAE’s economic fundamentals

Dubai International Financial Centre (DIFC) on Monday reaffirmed the strength, resilience and long-term outlook of its ecosystem, as global clients across banking, insurance, wealth and innovation sectors expressed continued confidence in Dubai and the UAE.

Essa Kazim, Governor of DIFC, said: “Over the past few weeks, countries in the Middle East have been navigating a period of regional uncertainty together. During these times, the true strength of DIFC has been our clients and community. What defines us is a shared belief in long-term opportunities that Dubai and the UAE offer to access the 77 markets across the Middle East, Africa and South Asia.

Together, we are building the future of finance and advancing Dubai’s journey towards becoming one of the world’s top four global financial centres.” Arif Amiri, Chief Executive Officer of DIFC Authority, said: “From global banks to FinTech disruptors, firms operating within DIFC say the current environment has not prompted retreat but rather reinforced the strategic importance of Dubai as a gateway to growth across the region. For many, the current environment serves as a reminder of why they chose DIFC in the first place: a stable and enabling legal and regulated framework, and globally connected platform capable of unlocking future growth.” Recent milestones reinforce DIFC’s trajectory, including Dubai’s rise to 7th globally in the Global Financial Centres Index in March, which is its highest ever ranking and underscores sustained global confidence in the emirate’s financial ecosystem.

An integral part of the DIFC ecosystem are 290 banks and capital markets firms, including 17 of the world’s 19 global systemically important banks. This reflects the vital role DIFC plays in connecting major players to opportunities in the region and being the bridge between markets in the East and West. Global banking leaders from Citi, Julius Baer and Standard Chartered highlighted DIFC’s critical role as a stable platform connecting international capital with opportunity.

Ebru Pakcan, Middle East & Africa Cluster and Banking Head at Citi, noted: “At a time when geopolitical dynamics are reshaping markets, the ability to deliver cross-border solutions, maintain liquidity, and stay close to clients is critical. DIFC enables Citi to do exactly that. Citi has maintained a continuous presence in the Middle East for over six decades, recognising its integral role in our global network.” “Since establishing a presence at DIFC in 2006, we’ve seen the financial hub transform into a strategic platform that connects capital, clients, and opportunities across the Middle East, Africa, and South Asia. From supporting sovereign issuances and corporate funding to enabling efficient treasury and liquidity management, DIFC allows Citi to operate at the centre of regional and global capital flows.” Regis Burger, Head of Middle East & Africa and Chief Executive Officer, Julius Baer (Middle East) Ltd, highlighted: “The UAE has established itself as a leading global financial centre and the foundations that underpin that position remain firmly intact. Its connectivity, business-friendly regulatory environment, tax-efficient framework, and world-class infrastructure continue to set it apart and attract investors, entrepreneurs, and institutions from around the world. DIFC has been at the heart of that story.

Julius Baer saw that potential before most. As the oldest organisation in DIFC, we were here at its founding, driven by a conviction that this region would emerge as one of the world’s most important centres of wealth creation and a magnet for global capital. That belief has only deepened over two decades of being embedded in this market, across our offices in the UAE, working closely with our clients in creating and preserving their wealth and building relationships across generations.

The region is approaching a historic transfer of nearly $1 trillion in wealth across generations by 2030, and the families navigating that journey require more than financial expertise. As an organisation with its own origins as a family business, Julius Baer has been through the entire business transformation cycle and understands what it takes to guide clients and their families through it.

We remain deeply committed to the UAE, the wider region, and to the clients and partners who trust us with their financial futures. That commitment does not waver in periods of uncertainty and it is precisely in these moments that our role as a wealth manager matters the most.” Rola Abu Manneh, Chief Executive Officer, UAE, Middle East, and Pakistan at Standard Chartered, added: “We have been in the UAE for over 65 years, and DIFC has been our regional home since 2004. Our commitment to the country is firm and unchanged.

The UAE entered this environment from a position of strength, supported by robust balance sheets, strong institutions, and a well-regulated financial system.

Client activity across the UAE reflects continued engagement, with businesses using the UAE as a base to access opportunities across regional and international markets. Through our global network, we connect clients to those opportunities while ensuring continuity of service and access to banking solutions.” The insurance industry has been growing in DIFC with gross written premiums doubling to over $4.2 billion in the last four years. Insurance leaders are emphasising DIFC’s role in strengthening risk management capabilities across the region.

WAM