Dubai International Financial Centre records strong growth in H1 2022

Dubai International Financial Centre records strong growth in H1 2022

DUBAI, UAE/PRNewswire/ -- Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, delivered robust growth in the first half of 2022. The Centre's strong performance reinforces DIFC's Strategy 2030 to drive the future of finance, differentiate Dubai as a global hub for financial institutions, FinTech and innovation companies, and increase its economic contribution to the emirate.

A total of 537 new entities registered during the first half of this year, representing an 11 per cent year-to-date increase. The total number of companies operating in DIFC has gone up from 3,297 to 4,031 at the end of June 2022, an increase of 22 per cent year-on-year.

The Centre is now home to 1,252 financial and innovation related companies, an increase of 22 per cent from the same period in 2021. FinTech and innovation companies jumped from 406 to 599, a 23 per cent increase year-on-year.

During the first half of this year, changes to DIFC laws and regulations included amendments to its globally recognised data protection law. In alignment with the country's vision to become a global benchmark in Open Finance, DIFC established the region's first Open Finance Lab, following an agreement with