His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has enacted the Common Reporting Standard Law Amendment Law No. 6 of 2020 of the Dubai International Financial Centre DIFC.
The new "Innovation License" will attract new types of businesses to the centre and is a key initiative for the Dubai Future District, which was announced in January 2020.
DIFC, the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region is welcoming the leading Saudi Arabian Bank, Samba Financial Group to its ever growing client list.
Startupbootcamp, one of the global industry-focused start-up accelerators, is setting up its Middle East and North Africa base at the Dubai International Financial Centre (DIFC) as it looks to expand its partnership with the emirate’s financial free zone.
DIFC, has signed a Memorandum of Understanding, MoU, with Jiaozi Fintech Dreamworks, one of China’s first Fintech innovation and entrepreneurship platforms.
In line with the directives of the Dubai government to support investors and reduce financial burdens on them, Dubai Customs signed a strategic memorandum of understanding with DIFC to enhance joint relations between government agencies and private institutions.
The DIFC Presidential Directive enabled firms to take appropriate action to deal with the effect of the COVID-19 pandemic on their business, during the Emergency Period commencing on 21st April 2020 and ending on 31st July 2020.
Tata Asset Management is one of the earlier asset management companies in India and is a part of the Tata group that have revenues of US$113 billion (2018-19). Headquartered in India, the Tata Group is an over 150 years old global enterprise that employs more than 720,000 individuals.
Dubai International Financial Centre (DIFC), a leading international financial centre and top international business hub in the Middle East, Africa and South Asia (MEASA) region, announced that it has invested in four FinTech start-up companies.
The reinsurance sector grew by 17.4 percent in 2019, representing the highest volume of premiums ever written in the market, further reinforcing the Centre’s position as the leading reinsurance hub in the region," DIFC said in a statement.
The primary motivation of the Directive is to make it easier for DIFC employers to impose temporary changes to their employees’ terms of employment, which in turn will reduce the likelihood of employers having to resort to terminate employment of their staff.
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of DIFC, said Dubai is committed to supporting businesses who are facing challenges amidst the fight against COVID-19