Dubai International Financial Centre (DIFC), has repored the number of active companies operating within its jurisdiction has increased 8.3% in H1 2015, with the number of people employed up 5% to a total more than 18,500.
Banks and capital market firms now account for 42% of active financial firms operating at DIFC (24% and 18% respectively), while wealth management companies represent 41% and insurance firms 16%.
“With a growing portfolio of active registered firms and an ever expanding and vibrant workforce, we are maximising the opportunities for investment into and trade with the emerging markets of the MEASA region,” Eisa Kazim, Governor of DIFC and chairperson of DIFC Authority, is quoted as saying by Zawya.
Among the new companies that set up operations in the first half of 2015, DIFC welcomed Lloyd’s of London, the global leader in specialist insurance and reinsurance, in March.
Joining in April, Bae, Kim & Lee (BKL), DIFC’s first Korean law firm, will advise the growing community of Korean companies investing in the Mena region. BankMed, one of Lebanon’s fastest growing banks, officially launched its operations in March.
At a glance: DIFC
1,327 active registered companies, H1 end, 2015
1,225 firms registered at the end of 2014
1,113 active registered companies, H1 end, 2014
140 new companies were licensed during the first six months of 2015:
36 financial services firms
91 non-financial services companies
13 retailers.
4.8% rise in total employment H1, 2015
Total mix of registered and operating companies:
382 financial services firms, up 9.1% 350 in the first half of 2014
750 are non-financial services firms, up 25% from 600
182 are retailers, up 14.5% from 159 in the first six months of last year.
