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DIFC reports business growth in H1-22

DIFC reports business growth in H1-22
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UAE – Mubasher: Dubai International Financial Centre (DIFC), a global financial centre in the Middle East, Africa, and South Asia (MEASA) region, registered robust growth in the first half (H1) of 2022.

The strong performance came in line with DIFC's Strategy 2030 to strengthen the future of finance and boost its economic contribution to Dubai, according to a recent press release.

DIFC posted an 11% year-to-date rise in the total number of new entities to 537 in H1-22. Meanwhile, the number of enterprises operating in the financial hub amounted to 4,031 in the first six months (6M) of 2022, an annual jump of 22% from 3,297.  

Last June, DIFC inaugurated the region’s first Open Finance Lab to endorse the financial technology sector following an agreement with the Central Bank of the UAE (CBUAE).

The Commercial Bank of Dubai (CBD), First Abu Dhabi Bank (FAB), Mashreq Bank, the National Bank of Ras Al Khaimah (RAKBANK), and Zand participated in the six-month programme under the Open Finance Lab.