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DIFC sees 25% rise in new firms in H1 2020

Financial free zone attracts 310 new companies

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The number of firms operating from the Dubai International Financial Center (DIFC) rose 25 percent in the first half of 2020 as the financial free zone targets tripling its size by 2024.

DIFC attracted 310 new companies in H1 2020, bringing the total number of companies to 2,584. Of these, 820 are financial firms.

New registrations include Tata Asset Management, Samba Financial Group, Gazprombank, Funding Souq, and Decimal Factor Middle East, while new fintechs include Ripple and KoFax Me.

The number of licensed fintech firms in DIFC grew 74 percent in this period, with 87 new financial technology companies joining the free zone.