Dubai, UAE: 1 September 2017 – Dubai has been ranked 10th in The Banker magazine’s annual International Financial Centre (IFC) rankings, placing it alongside hubs such as London, New York, Hong Kong and Singapore.
Since its establishment in 2004, Dubai International Financial Centre (DIFC) has become the leading financial hub for the Middle East, Africa and South Asia (MEASA) region. In the first six months of 2017, the Centre grew by 6.2% to 1,750 incorporated companies. This followed 14% growth over the course of 2016.
DIFC offers all the elements found in the world’s most successful financial industry ecosystems, including an independent regulator, an independent judicial system with an English common-law framework, a global financial exchange, inspiring architecture, powerful, enabling support services and a vibrant business community. DIFC is constantly looking to lead innovation, which led the recent launch of FinTech Hive at DIFC. FinTech Hive is a first-of-its-kind accelerator in the region, which brings cutting-edge financial services technology to the broader MEASA.
The Banker, part of the Financial Times Group, published its annual survey on the leading IFCs on 1 September 2017. The ranking focuses on the level of international business and the value offered to institutions seeking to expand their international operations. It is based on data ranging from financial markets indicators to economic potential to business environment factors.