{"id":51227,"date":"2015-06-10T18:12:00","date_gmt":"2015-06-10T20:12:00","guid":{"rendered":"https:\/\/escaesco.com.br\/lab\/anba\/dubais-financial-center-wants-us-400-bn-in-revenues\/"},"modified":"2019-06-30T12:59:23","modified_gmt":"2019-06-30T15:59:23","slug":"dubais-financial-center-wants-us-400-bn-in-revenues","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/dubais-financial-center-wants-us-400-bn-in-revenues\/","title":{"rendered":"Dubai\u2019s financial center wants US$ 400 bn in revenues"},"content":{"rendered":"<p>S&atilde;o Paulo &ndash; The Dubai International Financial Centre (DIFC), the financial free zone of the Emirate, announced Tuesday (9th) that it&rsquo;s planning to triple the number of companies in the area. In 2014, there were 265 companies. The goal for 2024 is to reach one thousand companies, with combined balance sheets going from US$ 65 billion, reached last year, to US$ 400 billion. The information is from the newspaper <em>The National<\/em> and the website <em>Gulf Business<\/em>. <\/p>\n<p>The DIFC also intends to increase the assets under its management from US$ 10.4 billion in 2014 to US$ 250 billion in the next ten years. The expansion plans also include an increase in the number of people working in the zone, going from 17,860 in 2014 to 50,000 in the next decade. <\/p>\n<p>&ldquo;There is some US$ 7 trillion to US$ 8 trillion worth of financial assets in the Middle East, but only about $1 trillion is&nbsp;managed in the region. There is a big market there&rdquo;, said Essa Kazim, head of DIFC, according to <em>The National<\/em>.<\/p>\n<p>According to Kazim, DIFC is considering future changes in the rules governing resource management and private banks to attract more business. The center also plans to start conversations with important banks from Asia and Middle East to be able to get more participation in these sectors, besides seeking to attract African banks to &ldquo;play a role in regional trade and infrastructure&rdquo; in the medium and long term, reported the newspaper. <\/p>\n<p>Islamic finances are seen as an important part of this ten-year expansion plan and the expectation is for them to answer for 20% of this growth.<\/p>\n<p>According to <em>The National<\/em>, Kazim said also that &ldquo;continued enhancement of the regulatory and physicalinfrastructure&rdquo; of DIFC is an important part in the expansion strategy, with the goal of aligning the standards of the Dubai Financial Services Authority (DFSA) to the international ones. DFSA is the body that issues licenses and regulates the activities conducted by the DIFC. <\/p>\n<p><strong>*Translated by S&eacute;rgio Kakitani<\/strong><\/p>\n<div class=\"credits-overlay\" data-target=\".wp-image-183109\">Press Release<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The target set is part of the expansion plans of the DIFC, the Emirate\u2019s financial free zone, for 2024. The goal is to triple the number of companies in the area.<\/p>\n","protected":false},"author":2316,"featured_media":183109,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[],"class_list":{"0":"post-51227","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"wps_subtitle":"The target set is part of the expansion plans of the DIFC, the Emirate\u2019s financial free zone, for 2024. The goal is to triple the number of companies in the area.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/51227","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2316"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=51227"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/51227\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/183109"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=51227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=51227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=51227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}