Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of the Dubai International Financial Centre (DIFC), stated that Dubai's economic development is on track to meet the vision established by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The emirate's economy has preserved high levels of sustainability among all areas, with substantial increases in a variety of industries. Despite the global economic problems, DIFC's solid growth findings demonstrating the durability and strength of the Dubai economy, he added.

Sheikh Maktoum complimented the DIFC team's efforts in effectively navigating the ramifications of the current global climate and displaying its adaptability. The results demonstrate the Centre's capacity not only to sustain but further accelerate its rate of expansion while guaranteeing the highest quality of assistance for partners. He stated that DIFC has supported its partners in relieving stresses on their businesses and maximizing their development and success.

“The excellent performance of DIFC boosts Dubai's position as a major regional and global financial center. The success of DIFC underscores Dubai's successful diversification strategy and confirms the city-concentration state's innovation-driven growth. “The emirate is dedicated to providing the greatest possible business climate to promote the growth of enterprises ranging from worldwide brands to potential entrepreneurial ventures,” Maktoum added.

“In the upcoming stage, we would continue to focus on solidifying our progress and unleashing new strategic possibilities which will empower us to fulfill our leadership's vision for a promising future for Dubai and the UAE,” Sheikh Maktoum said.

His remarks came as he presided over the first meeting of DIFC's Higher Board of Directors on Tuesday, during which he reviewed the Centre's advancement in the first half of 2021, and the achievements of DIFC's three independent agencies, Dubai International Financial Centre Authority, Dubai Financial Services Authority, and DIFC Courts.

Sheikh Maktoum also complimented the Centre's consistent progress in accomplishing the targets of the 2024 Strategy.

Maktoum also authorized the envisaged 2030 Strategy, which aims to strengthen DIFC's lead position as a global financial services center by enhancing its soft and hard infrastructure. DIFC expects to play an even larger role in defining the future of the world's financial services sector by recruiting more great firms from across the global industrial spectrum. The DIFC Higher Board of Directors was established by Decree No. (35) of 2020 issued by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai.

These were the attendees at the meeting, Essa Kazim, Governor of Dubai International Financial Centre (DIFC); Tun Zaki Bin Azmi, Chief Justice of the DIFC Courts; Fadel Al Ali, Chairman of the Dubai Financial Services Authority (DFSA); Abdulfattah Sharaf; Hesham Al Qassim; and Irshad Ghafour. The meeting reviewed key growth opportunities for DIFC in the second half of 2021.

“In the first half of 2021, DIFC has reinforced its position as the premier center for financial services in the Middle East, Africa, and South Asia region,” said Essa Kazim. This achievement has opened the ground for more development prospects, and we are always striving to push innovation, entrepreneurship, and new financial technology to keep Dubai at the forefront of the global financial sector. We were also eager to contribute even more to Dubai's strategic economic diversification, long-term development, and transformative growth. We will collaborate alongside our collaborators to market Dubai as a high-growth base for firms in the financial industry, and a capital and talent powerhouse.”