UAE – Mubasher: The Dubai International Financial Centre (DIFC), the leading financial hub in the Middle East, Africa, and South Asia (MEASA) region, on Monday announced it has captured the eighth position of the Global Financial Centres Index (GFCI), its highest ranking ever.
Governor of the DIFC Essa Kazim has celebrated the ranking by ringing the Nasdaq Dubai market-opening bell, according to a press release.
The DIFC is the only financial centre within MEASA region that made it to the GFCI’s top 10, boosting Dubai’s position alongside other renowned financial hubs such as New York, London, Hong Kong, and Singapore.
The financial centre has succeeded in climbing the ranking from 12th position to eighth during the period from March and September 2019, DIFC remarked.
The recent ranking highlighted DIFC’s strengths within all five major areas of the Index; Business Environment, Human Capital, Infrastructure, Financial Sector Development, and Reputation.
Essa Kazim said: “The recognition of Dubai as a top 10 global financial centre during the Nasdaq ceremony is symbolic of the exponential growth we have delivered during the last 12 months. The financial sector is a cornerstone for the UAE’s rapidly expanding economy and the DIFC is magnet for international trade and investment.”
“The Centre’s continued achievements further underscores the strong promise of Dubai as the destination of choice for global institutions, leading organisations, sector changemakers and the financial technology disruptors of the future to collaborate to deliver exponential growth. We reaffirm our commitment to shaping the future of the global financial landscape,” Kazim added.
Hamed Ali, chief executive of Nasdaq Dubai, said: “As the MENA region’s international financial exchange, Nasdaq Dubai is delighted to be playing an expanding role in DIFC’s success as a global financial centre. Our international as well as regional equity and debt issuers benefit from our close links with investors around the world and the high global visibility that a listing with us provides, as well the DIFC’s excellent regulatory infrastructure.”
