DIFC Advances Dubai’s Status as Preferred Global Financial and Innovation Hub with US Institutions

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Dubai, UAE; 6 June 2022: Dubai International Financial
Centre (DIFC), the leading global financial centre in the Middle East, Africa
and South Asia (MEASA), has generated a new wave of interest in Dubai from US
financial services companies that are keen to access regional opportunities by
having a presence in the Centre.

The interest was stimulated when a DIFC
senior delegation, led by His Excellency Essa Kazim, Governor of DIFC met
with prospective and existing clients as well as industry bodies in New York
and San Francisco.

The Governor’s delegation explored
collaboration opportunities and secured commitments by highlighting Dubai’s role
as a regional business hub and the DIFC’s English common law platform and
talent ecosystem. The roadshow showcased how DIFC is enabling the future of
finance and helping prospective clients navigate a route to MEASA markets, funding,
and talent.

DIFC, Standard Chartered Bank and the
US-UAE Business Council hosted an exclusive discussion on Dubai’s role as a
global business hub and the efficacy of DIFC’s platform in attracting top firms
and talent. The event was attended by the UAE Consul General in New York, Amna
Binzaal Almheiri. Her Excellency highlighted the USD 23 billion US-UAE
bilateral trade relationship, the UAE and Dubai’s role as centres for commerce as
well as the DIFC’s world-class infrastructure. The event spotlighted market
access, innovation, and talent as key reasons for DIFC’s success as a global platform.

His Excellency Essa Kazim, Governor of
DIFC, said:
“The
unparalleled demand from US firms seeking to move their finest talent to Dubai
reinforces the depth of the region’s markets. Dubai’s reputation as a global
hub for talent and innovation makes the Emirate the top destination for US
organisations seeking this regional growth. US firms have been choosing DIFC as
their preferred location since our establishment in 2004 and now account for 9%
of our financial services clients.

Our first official trip to the US since
the pandemic has generated particular interest from wealth and asset management
and FinTech firms, which are relocating talent to Dubai and DIFC. We will
continue to deepen these strategic partnerships to help our US clients realise
their growth aspirations and to contribute to the growth of our economy.”

DIFC banks hold approximately USD 200 billion
of assets from the Centre while DIFC Asset Managers currently oversee more than
USD 450 billion of AUM. DIFC is home to 17 of the top 20 global banks, 5 of the
top 10 asset managers, and is home to the top advisory, global law and
accounting firms including companies such as Millennium Management, KKR, Franklin
Templeton, Bank of America Merrill Lynch, Goldman Sachs, JP Morgan, Latham
& Watkins and White & Case.