Dubai International Financial Centre continues with growth in 2020
Total number of companies currently operating in the DIFC stands at 2,584 – a 13% increase year-on-year and up 6% on FY2019
310 new companies registered, an increase of 25% on prior year
87 new FinTech firms join DIFC, an increase of 74% year-on-year with 202 fully licensed FinTech firms now operating within the Centre
DIFC invests in four start-ups from its USD 100 million FinTech Fund to support sector diversification and drive the future of finance
Comprehensive stimulus package supports clients during the COVID-19 Emergency Period, providing financial relief and strength for the future
Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region, continued to drive the future of finance during the first half of 2020. The Centre made progress on its 2024 strategic priorities and achieved a record number of registrations in the first six months of 2020. These achievements paralleled efforts to help clients emerge stronger from the COVID-19 pandemic, contributing to local, regional and global economies.
Finance and related innovation industries continued to show their confidence in Dubai as MEASA’s leading financial and FinTech centre of choice. A total of 310 new companies were registered in the first six months of the year, representing an impressive 25% increase from the same period in 2019. This took the total number of active registered companies in the DIFC to 2,584, a significant achievement in light of the global pandemic. The Centre achieved continual growth throughout H1 2020, with an average monthly registration of 52 companies and two record breaking months with 66 company registrations in March 2020 and 88 in June 2020 respectively. DIFC is now home to 820 financial related firms, a 22 percent increase year-on-year and 11% increase on FY2019.
Representing DIFC’s focus on innovation and technology, FinTech organisations continued to be a significant area of growth. 87 FinTech firms joined the Centre’s already impressive technology and innovation ecosystem, boosting the number of licensed FinTech firms by 74% from H1 2019.
Notable new financial services firms include TATA Asset Management, Samba Financial Group, Gazprombank, Funding Souq, Brookfield Private Capital (upgrade) and Decimal Factor Middle East, whilst new FinTechs include Ripple and KoFax Me Ltd.