Dubai’s DIFC records 11% increase in new company registrations in H1 2022

Dubai’s DIFC records 11% increase in new company registrations in H1 2022

Dubai International Financial Centre (DIFC) has registered 537 new companies in the first half of the year, recording a 11 per cent increase from the same period in 2021. The total number of companies operating in DIFC soared from 3,297 to 4,031 at the end of June 2022, marking an increase of 22 per cent year-on-year. Amongst its 4,031 entities, DIFC is currently home to 17 of the world’s top 20 banks, 25 of the world’s top 30 global systemically important banks, five of the top 10 insurance companies, five of the top 10 asset managers, and many leading global law and consulting firms, reported. The centre is currently housing 1,252 financial and innovation-related companies, up 22 per cent from the first half of 2021. Fintech and innovation companies rose from 406 to 599, recording a 23 per cent increase year-on-year. New clients include, Rapyd, the first Israeli firm to be regulated in the UAE; Tarabut Gateway, the first regulated Open Banking platform to be licensed by the DFSA; KMMRCE Holdings, a Dubai-based digital-first technology provider; Oneglobal Broking, specialist international broking company; and ADIB Capital Ltd. for Wealth & Asset Management. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy