Interest builds in DIFC from US institutions during gathering of financial leaders

Dubai International Financial Center (DIFC), the leading global financial center in the Middle East, Africa and South Asia (MEASA), is seeing heightened interest from US-based companies looking to establish a presence in the Center so they can access opportunities in the region.

Following an extensive roadshow to the US in May this year, DIFC’s profile and reputation continues to grow, contributing to a 106 per cent increase in the overall client pipeline. This warranted a further visit to meet a range of institutions spanning the banking, wealth and asset management, hedge fund, insurance, FinTech and innovation sectors.

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The visit coincided with IMF and IIF Annual Membership Meetings which are attended by world and financial leaders.

The 2022 IIF AMM focused on the most relevant and cutting-edge issues impacting financial services, including ESG, sustainable finance and the role of digital assets, all of which aligns to DIFC’s vision to drive the future of finance.

Essa Kazim, Governor of DIFC. (Supplied)

DIFC’s senior delegation to Washington D.C. was led by Essa Kazim, Governor of DIFC. The Governor’s delegation highlighted how DIFC is enabling the future of finance and helping prospective clients navigate a route to MEASA markets.

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“DIFC’s latest visit to the US provided a perfect opportunity to reinforce Dubai’s growing reputation as a global hub for finance, technology and innovation. We are looking forward to welcoming more US firms to DIFC so they can access the fast-growing markets in the Middle East, Africa and South Asia region,” Essa Kazim said.

The visit coincided with IMF and IIF Annual Membership Meetings which are attended by world and financial leaders. DIFC was the only sponsor from the region for this year’s IIF Annual Membership Meeting. The IIF is the main association for the financial industry and has been working with DIFC for several years to advance the financial sector’s contribution to local, regional and global economies.

DIFC was part of a panel discussion at the IIF meeting on ‘The Tokenisation of Everything: DeFi, Smart Contracts and Web3’. It provided an opportunity for DIFC to address the landscape of new assets and their impact towards realising value in the global financial system – areas which DIFC and DFSA are integrating into their Innovation Hub proposition and regulatory framework.

“Our deep-rooted relationship with the IIF enables DIFC to highlight the progress Dubai has made as a global financial center during influential gatherings such as their Annual Membership Meeting. DIFC’s forward-thinking approach to recognising the role of digital assets in the industry was well received during the event and is an agenda we will continue to drive in the region,” Essa Kazim added.

With a close to 20-year track record of facilitating trade and investment flows across the MEASA region, the Center connects these fast-growing markets with the economies of Asia, Europe and the Americas through Dubai.

DIFC is home to an internationally recognized, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of almost 30,000 professionals working across over 4,000 active registered companies – making up the largest and most diverse pool of industry talent in the region.

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