- Home
- Middle East
- UAE
- Dubai International Financial Centre celebrates ranking as 8th Best Global Financial Centre
Dubai International Financial Centre Celebrates Ranking As 8th Best Global Financial Centre
Muhammad Irfan Published October 14, 2019 | 12:30 PM
DUBAI, (UrduPoint / Pakistan Point News / WAM - 14th Oct, 2019) Governor of Dubai International Financial Centre, DIFC, Essa Kazim 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 has risen up the ranks to the eighth position of the GFCI, securing the centre’s highest-ever ranking, said a press release issued by DIFC on Monday.
Dubai is the only financial centre within middle East, Africa and South Asia region to have a place in the top 10 rankings 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.
Commenting on the achievement, 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."
The financial sector, he said, is a cornerstone for the UAE’s rapidly expanding economy and the DIFC is a magnet for international trade and investment. The Centre’s continued achievements further underscore 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.
In turn, Hamed Ali, Chief Executive of Nasdaq Dubai, commented, "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."
Related Topics
Recent Stories
HEC reviews curricula for environmental sciences degree programme
ICC Asia looking forward to an action-packed Asia Cricket Week
Yuvraj Singh named ICC Men’s T20 World Cup 2024 Ambassador
Greece hands Olympic flame to 2024 Paris Games hosts
Two Kyiv hospitals evacuating over feared Russian strikes
World must act on neurotech revolution, say experts
Charles & Catherine's cancer diagnoses
Champions Alcaraz and Sabalenka through in Madrid Open
King Charles to resume some public duties during cancer treatment: palace
US defense chief announces $6 bn in security aid for Ukraine
Heavy rains cause damage to Spezand-Taftan railway track
Woman stabbed in Israel, attacker killed: police
More Stories From Middle East
-
UAE announces ‘Zero Bureaucracy Program’ to reduce bureaucracy
3 months ago -
COP28 President-Designate welcomes Transitional Committee agreement to operationalise Loss and Damag ..
6 months ago -
Global Media Congress 2023 to feature Co-Production Majlis as a new networking platform
6 months ago -
Young female athletes shine at Abu Dhabi World Youth Jiu-Jitsu Championship
6 months ago -
King of Jordan receives Abdullah bin Zayed and ministers participating in Arab coordination meeting
6 months ago -
Abdullah bin Zayed participates in coordination meeting of Arab foreign ministers, joint meeting wit ..
6 months ago
-
3rd annual conference of Emirates Society of Clinical Microbiology kicks off in Dubai
6 months ago -
SIBF 2023 hosts Nobel laureate to discuss emergence of ‘Afrofuturism’ in global discourse
6 months ago -
ALC announces winners of Kanz Al Jeel Award 2023
6 months ago -
SIBF turns spotlight on remarkable contributions of women
6 months ago -
Global assets in spot bitcoin ETFs hit $4.16 billion
6 months ago -
Rescuers struggle to find Nepal quake survivors as deaths reach 157
6 months ago