Today's Edition
DUBAI (ALETIHAD)
Dubai’s progress as one of the world’s leading global financial centres has been recognised in the latest edition of the Global Financial Centre Index rankings with success being attributed to DIFC’s achievements over the last 20 years.
Published by Z/Yen in London, the most credible index for the financial services industry rates 119 financial centres worldwide combining assessments from financial professionals with quantitative data which form instrumental factors.
The 31,314 financial centre assessments were collected from 4,946 financial services professionals who responded to the GFCI online questionnaire. The GFCI is updated regularly, and ratings change as assessments and instrumental factors change.
Headlines for Dubai:
• Dubai becomes top five city globally for FinTech for the first time, driven by DIFC initiatives
• Dubai is categorised as only one of eight cities in the world to be a global leader with ‘broad and deep’ capabilities across all parts of the finance industry, alongside cities including London, New York and Paris
• Dubai’s overall ranking advances to 12th (regional comparison below)
• Dubai becomes the number one (most mentioned) financial city is expected to become more significant
• Dubai is the only financial city in the region that appears in the top 15 categories for being globally competitive: 9th – infrastructure, 10th - business environment, 11th – reputation (includes laws, regs and innovation), and 12th - human capital
• Dubai is the only financial city in the region that now appears in any of the top fifteen cities list for each of the following sectors: 5th – FinTech, 6th – Professional Services, 8th – Investment Management, 13th – Trading and 14th – Banking/Finance
Commenting on the index findings, Essa Kazim, Governor of DIFC said: "With Dubai being one of only eight cities worldwide to be recognised as a global leader in the financial industry, we are proud to be shaping the future of global finance and contributing to the Dubai Economic Agenda."
He added, "Dubai’s emergence as a top-five global FinTech hub for the first time is a testament to our continuous commitment to innovation and excellence, driven by the forward-thinking initiatives of DIFC. With Dubai becoming the most mentioned financial city in terms of expected to become more significant in the years to come, we reaffirm our position as the region’s leading global financial centre."
Arif Amiri, Chief Executive Officer of DIFC Authority commented: "Dubai’s continued rise in the Global Financial Centres Index reflects DIFC’s unwavering commitment further to develop the region’s number one financial ecosystem. As the only financial city in the region to rank in the top 15 for global competitiveness across multiple categories, our leadership is evident.
Amiri added, "Moreover, Dubai's recognition as a top performer in key sectors underscores the breadth and depth of our financial capabilities. These achievements demonstrate our strategic focus on innovation, legal and regulatory excellence, and the development of a talented workforce, ensuring that Dubai remains at the forefront of global finance."
