DIFC’s Post

Dubai's financial sector is experiencing a positive surge, fuelled by its business-friendly environment and dedication to innovation. The Dubai International Financial Centre (DIFC) and the Dubai Financial Services Authority (DFSA) delivered outstanding results in 2023, solidifying Dubai's position as a leading global financial hub in alignment with #D33 goals. This year, the DIFC celebrates its 20th anniversary with a 23% growth in combined revenue – the fastest pace since its inception. It also reinforced its status as a preferred hub for finance companies, with 316 fintech and innovation firms establishing a presence in 2023 alone. Reflecting on #Dubai's growing attractiveness for investors, hedge funds, wealth and asset management firms, the DFSA saw a record-breaking 25% annual jump in the number of licensed firms. These achievements highlight Dubai’s commitment to fostering a dynamic and well-regulated financial ecosystem and becoming one of the top 3 cities for business and investment. #DubaiFinance #DIFC #DFSA #Growth #Innovation

🚀 CFI Expands Its UAE Presence to Abu Dhabi! We’re excited to share some great news with our network. #CFI has officially expanded its UAE-regulated entity, CFI Financial Markets LLC (CFI UAE), into the heart of #AbuDhabi. This expansion marks a significant milestone in our journey to strengthen our presence in the UAE and bring our trusted trading services closer to you. 🎉 🌟 Why Abu Dhabi? Abu Dhabi isn’t just any market for us; it’s a vibrant, dynamic capital that plays a key role in the region's financial landscape. As a hub of innovation, culture, and economic growth, Abu Dhabi aligns perfectly with our vision of providing cutting-edge, secure, and transparent trading solutions. This expansion is a strategic step to ensure our clients in the capital and across the UAE have unparalleled access to global financial markets.🌍 📈 What This Means for Our Clients With this move, we’re closer than ever to our valued clients in Abu Dhabi, offering enhanced accessibility, support, and world-class trading conditions. Our operations under the prestigious Category One license from the UAE's Securities and Commodities Authority (SCA) ensure our clients benefit from a robust local regulatory framework, providing security and transparency in all trading activities. 💼 Our Commitment to Abu Dhabi’s Growth At #CFI, we believe in not just participating in the markets but also supporting the communities we serve. Our presence in Abu Dhabi allows us to play a more direct role in the capital's development, helping it evolve as a leading financial and cultural center in the region. 🌆 Through our strategic partnership with the Department of Culture and Tourism - Abu Dhabi (DCT Abu Dhabi), we’re sponsoring a series of prestigious events throughout 2024 and 2025, further embedding ourselves in the city’s cultural and economic fabric. 💡 Looking Ahead As we continue to expand and innovate, with a strong foundation already established in Dubai, we remain committed to empowering our clients with the tools, resources, and support they need to succeed in the global financial markets. We’re excited about the opportunities ahead and look forward to growing together with Abu Dhabi and the broader UAE. 🌍 Thank you for being part of our journey. Together, we’re shaping the future of online trading in the #UAE. 💪 #CFI #AbuDhabi #Trading #FinancialMarkets #GrowthStrategy #UAE #Innovation #Leadership

DIFC Dives into the Future of Finance Celebrates 20th Anniversary with 20 Days of Finance Events Anchored around the 2nd edition of Dubai FinTech Summit held under the patronage of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE and President of DIFC. “As a leading global financial hub, DIFC has played a pivotal role in driving economic growth and innovation in the region, attracting leading institutions and talent from around the world. DIFC’s 20 Days of Finance serve as a testament to the Centre's commitment to excellence and innovation in the financial sector, as we continue to drive the future of finance by leading the way in driving innovation and digital transformation, enabling businesses to thrive in Dubai and beyond.” Arif Amiri, Chief Executive Officer, DIFC Authority Dubai International Financial Centre (DIFC) the leading global financial centre for the Middle East, Africa and South Asia (MEASA), announced an exciting series of finance events and activities spanning 20 days, in celebration of the Centre’s 20th Anniversary... https://bit.ly/49HHvYi LetsTalkCity #Dubai #Business #Finance #FinTech #UAE #GCC #MiddleEast

“The UAE once again proved itself to be a haven of economic and financial stability, recording sound growth and an acceleration of the country’s strategy for strategic diversification. Within this framework, the banking sector remains well capitalised with ample reserves of liquidity to back its ambitious expansion plans. Against the backdrop of a more challenging global financial and economic environment in 2023, First Abu Dhabi Bank came through the year with a resilient and robust performance, a testimony to the strength of its fundamentals and the depth of its management skills. “Our strategic direction is clear and unambiguous: to advance FAB’s position as the driver of economic and financial progress in the UAE, driving medium- and long-term value for all our stakeholders, while supporting the UAE’s position as a nexus of international trade and diplomacy… Our task in 2024 is to consolidate and extend the bank’s position as the UAE market leader, build on its strong credit rating and depth of capital resources, and enhance our strong international network to accelerate growth and become a global financial powerhouse with the strongest franchise in the region.” - H.H. Sheikh Tahnoon Bin Zayed Al Nahyan, Chairman of FAB

Dubai Financial Market (DFM) announced its consolidated financial results for the period ending June 30, 2024. Net profit before tax increased to AED 195.4 million, representing a notable 74% growth compared to the same period in 2023. The first half of 2024 experienced an increase in trading activity, higher trade values, and an influx of new investors. Furthermore, DFM hosted the annual Capital Market Summit, attracting over 1,000 international delegates. This landmark event provided key insights into the future of finance, reinforcing DFM's status as a leading global listing venue and highlighting the global appeal and robust investment opportunities within Dubai's financial markets. Find out more here: https://lnkd.in/dggeStGb #Dubai #GlobalFinance #InvestmentOpportunities 

Remarkable. That's the word that encapsulates the performance of financial centers in the #UAE in 2023. A blend of strategic innovation and expansion has propelled GDP growth. This shift is a testament to the region's evolving economic landscape. Let's delve deeper. DIFC has been a game-changer. With a 23% surge in revenues and a 27% increase in operating profits, the figures speak volumes. The addition of 661 new entities in just the first half of 2023 is reshaping Dubai into a global finance and innovation beacon. Now housing 4,949 companies, including 811 FinTech and innovation firms, DIFC's trajectory is nothing short of stellar. Abu Dhabi Global Market (ADGM) , on the other hand, is marking its territory as the fastest-growing financial center in the region, capital of capital, for the second consecutive year. In just eight years, its achievements are groundbreaking. From pioneering the region’s first Sustainable Finance Framework to hosting significant funds, ADGM's role in Abu Dhabi's financial dynamism is crystal clear. Together, #AbuDhabi and #Dubai are not just attracting regulated corporations but are also paving the way for economic diversification beyond the traditional oil and gas sectors. ADGM attracted global and regional giants like Brevan Howard, Ardian, Goldman Sachs, Tikehau Capital, Blackstone, and more as well as renowned local entities like ADQ, Chimera, G42, Gulf Capital, and Investcorp. The creation of jobs and bolstering of financial services highlight a powerful stride towards excellence. But here's a thought-provoking question⁉️: With such unprecedented growth and strategic movements, can we anticipate seeing UAE's financial centres ranking among the top 10 Global Financial Centres by 2030? #DIFC #ADGM #Finance #Innovation #GlobalHub

As the #UAE sets its sights on doubling the #digital #economy’s contribution to GDP, at Visa, we believe #responsible #money usage is the foundation of a #sustainable economy Our 2024 Financial Literacy Survey shows 64% of UAE respondents feel their financial situation hinders their ability to accomplish significant goals. That’s why we are proud to join Central Bank of The UAE, Ministry of Education – UAE, First Abu Dhabi Bank (FAB) and others in partnering with Emirates Foundation to promote #financialliteracy and empower UAE residents to make informed financial decisions https://lnkd.in/dcAhapHm

Straight from the Capital Market Summit stage! Our opening fireside chat with H.E. Helal AlMarri moderated by May Nasrallah showcased DFM's strategic significance in Dubai's economic landscape. The session emphasized Dubai's commitment to safety, security, tolerance, and sustainability, with initiatives such as the Dubai Reef project aimed at achieving carbon neutrality and setting a precedent for other established economies to replicate. H.E Helal also emphasized Dubai's forward-looking approach with the D33 economic agenda and its strategies for continued economic prosperity and global prominence. “DFM is an integral part of the ecosystem and has ensured that there is the right governance, watchdogs, global standards and regulations in place to help the capital markets thrive” – H.E. Helal AlMarri, Chairman of DFM. #CapitalMarketSummit #Dubai #May2024 #IPO #DFM #D33

"𝐼 𝑤𝑎𝑛𝑡 𝐷𝑢𝑏𝑎𝑖 𝑡𝑜 𝑏𝑒 𝑛𝑢𝑚𝑏𝑒𝑟 𝑜𝑛𝑒. 𝑁𝑜𝑡 𝑖𝑛 𝑡ℎ𝑒 𝑟𝑒𝑔𝑖𝑜𝑛, 𝑏𝑢𝑡 𝑖𝑛 𝑡ℎ𝑒 𝑤𝑜𝑟𝑙𝑑. 𝑁𝑢𝑚𝑏𝑒𝑟 𝑜𝑛𝑒 𝑖𝑛 𝑒𝑣𝑒𝑟𝑦𝑡ℎ𝑖𝑛𝑔" The visionary words of His Highness Sheikh Mohammed bin Rashid Al Maktoum have been the driving force behind Dubai's meteoric rise. The Dubai International Financial Centre (DIFC) is a testament to this unwavering ambition. Celebrating its 20th anniversary in tandem with Dubai's D33 economic agenda, DIFC has solidified its position as a global financial powerhouse. The Centre's exceptional performance in the first half of 2024 underscores Dubai's status as a premier ecosystem for innovation and business growth. Key highlights include: 1. The centre has been recognised as the number one free zone globally for greenfield FDI projects. 2. Assets Under Management have soared by 58% to an impressive USD 700 billion. 3. The Fintech and Innovation sector has experienced explosive growth, with a 33% surge in firms, now totalling 1,081. 4. Staggering 24% year-on-year increase in active registered companies, surpassing 6,000 for the first time. 5. Addition of 820 new businesses and the creation of 4,647 new jobs, boosting the total workforce to 43,787. These remarkable achievements not only propel DIFC to new heights but also reinforce Dubai's broader economic aspirations. As the city aims to become one of the world's top three urban economies and double its GDP within the next decade, DIFC is poised to play a pivotal role in expanding and diversifying the financial services sector. “𝐵𝑦 𝑓𝑜𝑠𝑡𝑒𝑟𝑖𝑛𝑔 𝑎 𝑟𝑜𝑏𝑢𝑠𝑡 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑒𝑐𝑜𝑠𝑦𝑠𝑡𝑒𝑚, 𝑎𝑡𝑡𝑟𝑎𝑐𝑡𝑖𝑛𝑔 𝑡𝑜𝑝-𝑡𝑖𝑒𝑟 𝑡𝑎𝑙𝑒𝑛𝑡 𝑎𝑛𝑑 𝑖𝑛𝑠𝑡𝑖𝑡𝑢𝑡𝑖𝑜𝑛𝑠, 𝑎𝑛𝑑 𝑒𝑠𝑡𝑎𝑏𝑙𝑖𝑠ℎ𝑖𝑛𝑔 𝑠𝑡𝑟𝑜𝑛𝑔 𝑛𝑒𝑡𝑤𝑜𝑟𝑘𝑠 𝑜𝑓 𝑔𝑙𝑜𝑏𝑎𝑙 𝑐𝑜𝑜𝑝𝑒𝑟𝑎𝑡𝑖𝑜𝑛, 𝐷𝐼𝐹𝐶 ℎ𝑎𝑠 𝑜𝑝𝑒𝑛𝑒𝑑 𝑛𝑒𝑤 𝑔𝑟𝑜𝑤𝑡ℎ 𝑎𝑣𝑒𝑛𝑢𝑒𝑠, 𝑝𝑜𝑠𝑖𝑡𝑖𝑜𝑛𝑖𝑛𝑔 𝐷𝑢𝑏𝑎𝑖 𝑎𝑠 𝑎 𝑘𝑒𝑦 𝑓𝑜𝑐𝑎𝑙 𝑝𝑜𝑖𝑛𝑡 𝑓𝑜𝑟 𝑖𝑛𝑡𝑒𝑟𝑛𝑎𝑡𝑖𝑜𝑛𝑎𝑙 𝑓𝑖𝑛𝑎𝑛𝑐𝑒 𝑎𝑛𝑑 𝑐𝑜𝑚𝑚𝑒𝑟𝑐𝑒”. - His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE and President of DIFC. #DIFC #FutureofFinance #Dubai #UAE

🌍💥 By the Numbers: What You Should Know About the Dubai International Financial Center (DIFC) During my exploration of Dubai this week, I delved into the economic landscape to uncover the latest trends in the financial services industry. Here's a snapshot of compelling statistics that paint a picture of the Dubai International Financial Center (DIFC) and its remarkable journey towards becoming the leading financial hub for the Middle East, Africa, and South Asia (MEASA) region (Data 2023): 📈 A notable 26% increase in active companies, reaching 5,523 🌟 1,451 new companies set up, marking the highest annual registration in DIFC's history, up by 34% 💰 Revenues surged to nearly AED 1.3 billion, up 23%, with operating profits hitting AED 859 million (27% increase) 🏦 Total assets soared to AED 18 billion, an 18% growth ✨ Spotlight on Innovation and Financial Services: - The number of financial and innovation-related companies jumped 22%, totaling 1,674 - FinTech and innovation firms in DIFC reached 902, with 316 new firms in 2023 alone - Wealth and asset management firms now exceed 350 💼 The workforce within DIFC expanded to 41,597, creating over 5,514 new jobs and affirming DIFC's status as a magnet for global talent 🌱 Leading the charge in sustainability, DIFC introduced initiatives like the Sustainable Finance Catalyst, aiming to channel US$100 billion into sustainable finance by 2030 The DIFC has not only surpassed its growth targets for 2023 but also plays a crucial role in Dubai's ambitious Economic Agenda D33, striving to double the economy's size over the next decade. It serves as an innovation hub with the inaugural Dubai FinTech Summit and the newly launched Dubai AI and Web3 Campus 🔥 For those active in finance, DIFC is a vibrant ecosystem worth exploring. What's your perspective on finance in Dubai? Considering expansion to this dynamic region? At SmartPurse, we're on a mission to globalize this year, and DIFC certainly presents a compelling case for our consideration - happy to connect, learn and explore!🌟 #DIFC #FinancialInnovation #SustainableGrowth #growth #finance #expansion #startup #fintech #wealthmanagement 👉🏻 Data source: Khoder Nashar, article DIFC marks 20th anniversary, Emirates News, February 2024, please find the link in comments -------- P.S.: if you liked this post, share and ring the 🔔 on my profile