Arab Today, arab today difcbased firms boost deposits to 128 billion
Last Updated : GMT 23:37:20
Arab Today, arab today
Arab Today, arab today

DIFC-based firms boost deposits to $12.8 billion

Arab Today, arab today

Arab Today, arab today DIFC-based firms boost deposits to $12.8 billion

Dubai - Arabstoday

The Dubai International Financial Centre, or DIFC, said on Monday that deposits out of the global financial hub have grown in the past three years at an average annual rate of 39 per cent to reach $12.8 billion at the end of Q1 2012. Loans and advances of DIFC’s regulated entities rose over the same period at an average annual rate of 40 per cent to reach $14.7 billion. Assets under management at DIFC-based companies remained steady, and recorded $8.1 billion during the period. Abdulla Mohammed Al Awar, chief executive officer of the DIFC Authority said the numbers were testament to the successful growth in the breadth and depth of financial activity within DIFC due to the diverse services provided by the regulated firms. “As one of the global financial hubs, it is natural that we are observing an influx of new companies from around the world, especially banking and financial services firms, who are attracted by the vast opportunities the region offers.” “Our effort toward enhancing DIFC’s legal and regulatory framework as well as its physical infrastructure positions DIFC as an ideal platform for regional and international growth,” said Al Awar. He said DIFC continued to grow steadily as one of the world’s established financial centres. “As of March 2012, the DIFC community comprised 861 active registered companies (322 regulated and 539 non-regulated companies); already two per cent up on 2011 numbers.”  Dr Nasser Saidi, Chief Economist at the DIFC, said the hub is the only international financial centre that collects and publishes financial activity data of its registered entities. “What the data clearly shows is that DIFC entities have witnessed continued real growth over the past three years, despite the international financial crisis and regional events.  “Deposits and credit growth rates of DIFC-based companies have also been substantially higher compared to those of the GCC area banks. We expect higher growth to continue as DIFC-based companies expand their activities further.” The DIFC is home for 21 of the world’s top 30 global banks, 8 of the top global money managers, 6 of the 10 largest insurers and six of the top 10 law firms in the world. The DIFC statistics are collected from different sources. The DIFC Economics team and the Dubai Financial Services Authority provided data and estimates. Other information, including data on deposits, credits, and assets under management outside the DIFC, were collected from monetary and statistical authorities’ websites and other databases.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today difcbased firms boost deposits to 128 billion Arab Today, arab today difcbased firms boost deposits to 128 billion

 



Arab Today, arab today
Arab Today, arab today Nasima Gamei revives Algerian heritage in jewelries

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives Algerian heritage in jewelries
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 06:11 2017 Thursday ,23 February

Football: Turkish company wins Qatar World Cup contract

GMT 05:46 2017 Thursday ,23 February

SABIC net profits fall in 2016

GMT 21:01 2017 Wednesday ,22 February

Saudi Aramco mulls offering citizens discounted shares

GMT 16:50 2017 Wednesday ,22 February

Yahoo salvages Verizon deal

GMT 15:47 2017 Wednesday ,22 February

Airbus faces challenges as it enters new era
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday