Dubai International Financial Centre (DIFC) has announced strong growth in its community, with new companies from various parts of the world joining the Centre.

The total number of active registered companies in DIFC reached 2,003 at the end of June, up 8 per cent from 1,853 as of December 31, 2017 and 14 per cent year on year from 1,750, a growth that reflects the industry’s continued confidence in Dubai and its leadership’s vision, said a statement from the Centre.

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, it stated.

These strong results, together with the ‘International Finance Centre’ award DIFC received at the WealthBriefing European Awards 2018, reaffirm the Centre’s position as MEASA’s leading financial cluster and one of the world’s top 10 financial hubs, it added.

Lauding its achievement, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of DIFC said the Centre had played a highly positive and impactful role in the emirate’s economic development and diversification.

Building on its world-class ecosystem, the Centre has constantly strengthened its partnerships with leading financial institutions and attracted international players to access growth opportunities through its world-class platform, he stated.

Sheikh Maktoum pointed out that DIFC’s strategy was a true reflection of the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai, which aims to cement Dubai’s global status as a prominent destination for innovation and investment.

"It is also a pivotal hub for tapping growth opportunities in the Middle East, Africa and South Asia, MEASA – a region with a combined GDP of $7.7 trillion," he added.

Sheikh Maktoum commended DIFC for its exceptional performance and for adopting the highest international standards.

"Our years of outstanding achievements further strengthen the strong confidence that DIFC’s partners from around the world have both in Dubai and the Centre. We are committed to further enhancing these partnerships as we continue to provide our growing community with an integrated platform for growth," he added.

DIFC Authority Board of Directors Chairman Essa Kazim said: "The fundamentals of the Dubai economy, together with the robust infrastructure we have built at DIFC, continue to be the cornerstones of the sustainable growth we are delivering."

"Guided by the forward-looking vision of our leadership, we have built a sophisticated ecosystem that is the preferred platform for many of the world’s largest and highly respected institutions. Committed to shaping the future of financial services in the region, the Centre’s best-in-class services ensures that DIFC remains ahead of future trends and plays a pivotal role within the global financial system," stated Kazim, who is also governor of DIFC.

DIFC Authority CEO Arif Amiri said: "We are 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."

"All of these companies have chosen us as their preferred financial centre to build their MEASA business given our track record of close to 15 years, unrivalled infrastructure quality, proven legal and regulatory framework, and because they can have access to the best pool of financial talent in the region," he added.-TradeArabia News Service