thewealthnet     About Us    |    FAQs    |    Contact Us
 
  Search
 
     
  Advanced Search       RSS Feed  twitter  linkedin 
Welcome to thewealthnet    |   Europe, Middle East & Africa Get The App   |   Login
  Sun 20th Jan 2019  |    Make this my homepage  
Subscribe now!
Credit Cards Accepted
World Map
    
Dubai promises further growth as it registers over 200 asset and wealth management firms
10/09/2018 , News Team

Dubai International Financial Centre (DIFC) has registered over 200 asset management and global advisory businesses, and is promising more growth.

Fidelity International (FIL Distributors International Limited) was licensed by the Dubai Financial Authority in July, marking a growth milestone for the city which has transformed from what was essentially a small fishing town in the early 1960s, through the 1980s oil boom, and into a diversified finance and real estate hub.

The DIFC’s most recent legislative changes include The Trust Law, and the Foundations Law, both passed in March, the latter aiming to provide greater certainty and flexibility for private wealth management and charitable institutions “in line with international best practice”, the DIFC said.

DIFC chief executive Arif Amiri said major financial institutions now saw Dubai as a platform for accessing investment opportunities and sources across global markets. “

“To date, the centre has seen consistent and significant growth in this field, reflecting the industry’s ongoing confidence in Dubai and DIFC,” Mr Amiri said.

“We expect to see this growth continue as we introduce new regulations to our attractive legislative and business environment in line with our ambitious 2024 Strategy.”

The 2024 strategy’s aim is to treble the number of firms, employees, and assets under management in DIFC over the ten years from 2014.

The number of registered companies and specialist global advisers now sits at over 200, including 13 of the world’s top 25 firms in the sector. DIFC is also home to over 60 significant funds, making it the leading fund domicile in the region.

In the first half of 2018, more than 150 companies were licensed in DIFC, boosting the total number of companies to 2,003, including major financial institutions State Street Global Advisors and Berkshire Hathaway Specialty Insurance.

 

 

Share with Linkedin Share with Twitter
 RATE THIS ARTICLE
Poor   Average   Good   Excellent
thewealthnet archives contain 50,905 articles dating back to 1997,making it the largest single source of information on the wealth management industry world-wide. To search for more articles, please click here.

 

© This article originally featured on thewealthnet. It is protected by international copyright law. If you copy this article illegally, you will be liable to prosecution. All rights in and relating to this article are expressly reserved. No part of this article may be reproduced, stored in a retrieval system or transmitted in any form or by any means without written permission from the publishers.

 
    Latest Headlines:    by Topic | All News
 
  Advertise   |   Contribute   |   Press Release   |   Terms of Use   |   Privacy   |   Contact Us Copyright Pam Insight Ltd., All Rights Reserved