Dubai International Financial Centre Celebrates Ranking as 8th Best Global Financial Centre by Ringing Nasdaq Dubai Market-Opening Bell

  • DIFC Governor presides over the iconic bell ringing ceremony, signalling the start of trading at the region’s international financial exchange
  • Ceremony reinforces Dubai’s standing as a top 10 global financial centre
  • Rise in ranking is testament to DIFC’s remarkable success in building a comprehensive, innovative and dynamic ecosystem fostering financial sector growth

Dubai, UAE, 14 October 2019: His Excellency Essa Kazim, Governor of DIFC, today rang the Nasdaq Dubai market-opening bell to mark Dubai soaring into the top ten of the Global Financial Centres Index (GFCI).

Dubai International Financial Centre (DIFC) is the leading financial hub in the Middle East, Africa, and South Asia (MEASA) region and has risen up the ranks to eighth position of the GFCI, securing the Centre’s highest ever ranking.

Dubai is the only financial centre within MEASA region to have a place in the top 10 ranking of the GFCI. Dubai’s elevated position places the Emirate alongside other renowned financial hubs such as New York, London, Hong Kong and Singapore. Dubai has consistently climbed the ranking since the Index launched 12 years ago, quickly progressing from twelfth position to eighth, between March and September 2019. The recent ranking recognised DIFC’s strengths within all five major areas of the Index including Business Environment, Human Capital, Infrastructure, Financial Sector Development and Reputation, reflecting its emergence as a broad, deep, dynamic and stable financial centre.

His Excellency Essa Kazim, Governor of DIFC, said: “It is a tremendous honour to open the day’s trading at the Nasdaq stock exchange as we have placed great importance in fostering an environment to help financial institutions thrive. The ceremony reflects the achievements of Dubai as a pivotal business hub and the DIFC as a rising global financial powerhouse. 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.”

He continued: “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.”

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.”     

Dubai continues to be recognised on the global stage as a dynamic business environment where innovation thrives. DIFC offers all the elements found in the world’s most successful financial industry ecosystems, including an independent regulatory and judicial system, a global financial exchange, access to funding, a dynamic and enabling sector environment and an experienced and cosmopolitan talent pool.

About Dubai International Financial Centre

Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and a nominal GDP of USD 7.7 trillion.

With a 15-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe and the Americas through Dubai.

DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of more than 24,000 professionals working across over 2,200 active registered companies – making up the largest and most diverse pool of industry talent in the region.

The Centre’s vision is to drive the future of finance. Today, it offers one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups.

Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels and public spaces, DIFC continues to be one of Dubai’s most sought-after business and lifestyle destinations.

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