DUBAI, Dubai International Financial Centre, DIFC, has reinforced its contribution to the UAE's economy and its commitment to driving the future of finance, following strong performance during the first half of 2019.

The Centre saw sustained growth in the first half of 2019, welcoming more than 250 new companies, and bringing the total number of active registered firms to 2,289, demonstrating a 14 percent increase year-on-year. This has fuelled the creation of over 660 jobs, boosting the Centre's combined workforce to more than 24,000 individuals, and has resulted in the occupancy of 99 percent of DIFC-owned buildings.

The DIFC now boasts more than 671 financial related firms, an 11 percent increase from the same period last year.

The financial services firms that joined in 2019 include Maybank Islamic Berhad from Malaysia, Cantor Fitzgerald from the United States of America, Atlas Wealth Management from Australia and Mauritius Commercial Bank. In addition, leading non-financial firms including Guidepoint MEA, Medtronic Finance Hungary Kft. and Network International, have also joined the Centre in the first six months of 2019.

Commenting on the results, H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and DIFC President, said, "Dubai continues to gain recognition on the global stage as the destination where business meets innovation, and the DIFC has been a significant driver of this."

The strong performance that the Centre has delivered during the first half of 2019 highlights the confidence and trust that international financial institutions have in Dubai," His Highness continued, adding "Aligning with the 50-year charter announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, the planned expansion of the DIFC will solidify Dubai's role as a pivotal hub for companies from around the world to access regional opportunities."

DIFC Governor Essa Kazim said, "The DIFC has been a pioneer in the financial services sector since its inception in 2004, as the first purpose-built financial centre in the MEASA region. Fifteen years on, we continue to demonstrate our forward-thinking approach with the enhancement of our legal and regulatory framework, as well as the development of a comprehensive ecosystem. The Centre remains a fundamental driver in leading financial sector transformation, supporting the advancement of the UAE economy, and developing the next generation of financial professionals."

Source: Emirates News Agency