Many of our international clients have a presence in Dubai, and it is not hard to see why.
Within the free trade zone of Dubai International Finance Centre (DIFC), you will find a host of big banks like HSBC, Standard Charter as well as many private banks and finance and investment companies. DIFC district is located at the heart of Dubai and is one of the most sought-after locations for businesses.
The DIFC is fast becoming a main hub for international financial services in the region as it meets international standards set out under the Principles for Financial Market Infrastructures issued by the International Organisation of Securities Commissions, DIFC has enhanced its standing internationally.
Furthermore, the Dubai Financial Services Authority (DFSA), an independent regulatory body overseeing activities conducted in the DIFC of over 500 authorised firms. As the DFSA rulebook evolves we are finding greater synergy with other international financial regulators like the Financial Conduct Authority (FCA) in UK.
Indeed, the 2020 outlook for Gulf Cooperation Council (GCC) banks is stable amid solid economic growth, strong capital buffers and substantial liquidity, according to Moody’s Investors Service.
Ashish Patani, Director at Ashlynwood, on a recent visit to Dubai mentioned, “With the continued strong economic outlook for Dubai and the wider GCC region, our focus on helping clients with their policies and procedures are consistent and streamlined between their operations in UK, Europe and Dubai, to ensure our clients take full advantage of the positive economic outlook.”
Reference List
Link to Moody’s Investors Services: https://www.moodys.com/research/Moodys-GCC-banks-outlook-is-stable-amid-solid-economic-growth–PBC_1204497?showPdf=true