(MENAFN- The Arabian Post)

The Dubai International Financial Centre Authority has reported that US companies account for approximately 7% of the financial services firms operating within the DIFC, a landmark financial hub that has been active since its inception in 2004. This data highlights the increasing influence of US-based businesses in the Middle East's burgeoning financial sector, with a noticeable presence of American institutions across various finance-related services.

Arif Amiri, CEO of the DIFC Authority, shared the statistic following a Dubai Chambers delegation's recent trip to the United States. The delegation included key figures from the Dubai Business Forum, an event designed to foster economic ties between Dubai and US companies. The series of meetings conducted during the visit explored potential partnerships, investment opportunities, and ways to enhance collaboration between the private and public sectors in both regions.

The DIFC, which has positioned itself as a financial gateway between the East and West, has attracted a broad spectrum of global firms since its establishment. It has become an important location for international businesses seeking access to the Middle East and North Africa markets. Its regulatory environment, along with tax incentives and a strategic geographic location, continues to make it an appealing destination for global firms looking to expand in the region.

The 7% figure is significant, as it underscores the growing role of the US in the region's financial landscape. US companies operating in the DIFC span a wide range of industries, including banking, insurance, investment management, and fintech. These firms benefit from the DIFC's robust regulatory framework, which mirrors international standards, providing a stable and secure environment for business activities.

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The Dubai Business Forum, which took place during the delegation's US visit, served as a platform for discussing emerging trends in the financial services sector. The event, held in various US cities, brought together key industry leaders, government representatives, and private-sector executives to exchange ideas and explore business opportunities. Discussions centred on the growing role of fintech, blockchain technology, and sustainable finance, all areas in which both Dubai and the US are increasingly investing.

The impact of US companies in the DIFC can also be seen in the broader economic context. Dubai's economy has diversified significantly in recent years, with a noticeable shift towards knowledge-based industries and innovation-driven sectors. As global financial centres become more interconnected, the influx of US companies to Dubai is contributing to the city's status as a regional leader in financial services and innovation.

As the DIFC continues to expand, US companies are expected to play an integral role in its growth. The business-friendly environment, coupled with the increasing demand for financial services in the MENA region, makes Dubai an attractive base for US firms looking to tap into new markets. The alignment between the regulatory frameworks of Dubai and the US further facilitates this cross-border business expansion.

The strategic importance of the DIFC is also underlined by its role in facilitating the flow of capital between the Middle East, Asia, and the Western markets. As a growing number of international companies establish a presence in the DIFC, the centre is poised to become an even more vital player in the global financial ecosystem.

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US firms, with their extensive global networks and strong financial expertise, bring a wealth of knowledge to the DIFC, contributing to the exchange of best practices and fostering innovation in the region's financial markets. As the DIFC continues to grow, the collaboration between Dubai and US companies will be key in shaping the future of finance in the Middle East and beyond.

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