The Dubai Financial Services Authority (DFSA) has reported a remarkable 31% increase in authorised firms in 2024, adding 135 new entities to its regulatory portfolio.
This growth brings the total number of regulated firms to over 900, solidifying Dubai International Financial Centre's (DIFC) status as a leading global financial hub.
The DFSA also authorised 946 individuals and registered 17 Designated Non-Financial Business or Professional (DNFBP) corporate service providers, including accountancy firms, legal practices, and compliance consultancies. This surge underscores the growing trust in the DFSA’s robust regulatory framework and its dedication to fostering financial innovation while upholding global compliance standards.
Fadel Al Ali, Chairman of the DFSA, expressed his satisfaction with the progress, stating,
“This reflects the DFSA’s commitment to supporting both new entrants and established firms, contributing to the prosperity of Dubai and the UAE.”
The DFSA’s engagement efforts included 23 outreach sessions and four roundtables in 2024, reinforcing its collaboration with industry stakeholders.
A key focus for the DFSA is talent development, particularly among Emirati professionals. The 'Tomorrow’s Regulatory Leader' programme plays a pivotal role in equipping local talent with essential regulatory skills. Ali AlRais, a recent graduate of the programme, highlighted the DFSA’s stakeholder-centric approach, emphasizing the balance between innovation, growth, and social responsibility.
With a steadfast commitment to transparency, resilience, and inclusive economic development, the DFSA continues to set the standard for regulatory excellence in Dubai and beyond.
News Source: Emirates News Agency
