Dubai: Dubai International Financial Centre (DIFC) today 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.
According to Emirates News Agency, Essa Kazim, Governor of DIFC, emphasized the collective belief in the long-term opportunities offered by Dubai and the UAE to access the 77 markets across the Middle East, Africa, and South Asia. Arif Amiri, Chief Executive Officer of DIFC Authority, highlighted that firms operating within DIFC see Dubai as a strategic gateway for growth, underscoring the emirate's stable legal and regulatory framework.
Recent milestones, such as Dubai's rise to 7th in the Global Financial Centres Index in March, demonstrate sustained global confidence in its financial ecosystem. DIFC's ecosystem includes 290 banks and capital markets firms, playing a vital role in connecting major players to regional opportunities.
Global banking leaders from Citi, Julius Baer, and Standard Chartered praised DIFC's role as a stable platform connecting international capital with opportunity. Ebru Pakcan of Citi emphasized DIFC's importance in delivering cross-border solutions and maintaining liquidity amid geopolitical dynamics. Regis Burger of Julius Baer highlighted the UAE's position as a leading global financial centre with DIFC at its core.
The insurance industry in DIFC has seen significant growth, with gross written premiums doubling to over $4.2 billion in the last four years. Omar Gemei of Marsh DIFC noted Dubai's role as an international hub for the insurance and risk management sector, supported by a business-friendly environment fostering innovation.
Dubai's status as the region's preferred hub for wealth and asset management is further reinforced by the presence of over 500 firms from the sector operating in DIFC. Peter Clark of Bentley Reid emphasized the UAE's economic success built on key fundamentals, and the firm's long-term commitment to DIFC.
ICICI Prudential Asset Management Company and Ripple exemplify the continued expansion into DIFC, with Nimesh Shah of ICICI highlighting Dubai's regulatory ecosystem and global connectivity, and Reece Merrick of Ripple acknowledging the UAE's position as a global hub for digital assets.
Innovative PropTech solutions are being developed by Stake at DIFC, as noted by Manar Mahmassani, who acknowledged the Centre's role as a launch pad for their growth. Similarly, Michael Faye of Taptap Send praised DIFC as a world-class environment for FinTech companies to thrive.
The collective voice of global financial entities reinforces DIFC's position as a resilient and forward-looking financial ecosystem. Despite a complex global backdrop, firms deepen their presence, driven by confidence in the Centre's legal and regulatory environment, connectivity, and growth prospects, cementing Dubai's standing as a leading global financial hub.