DFSA-regulated Entities Jump 31% In 2024 To Go Past The 900 Mark

DFSA, the independent regulator of financial services conducted in and from the Dubai International Financial Centre (DIFC), said 135 new entities were added during the last year.

DFSA drives economic prosperity

The DFSA also authorised 946 individuals and registered 17 Designated Non-Financial Business or Professional (DNFBP) corporate services providers – such as accountancy firms, legal practices, and compliance consultancies.

The growth highlights the Authority’s ongoing commitment to strengthening the financial services sector within the DIFC, maintaining robust regulatory standards, and supporting a diverse financial ecosystem.

Chairman Fadel Al Ali, commented: “I am delighted with the significant increase in the number of authorised firms in 2024, taking the total number of regulated entities to more than 900.

“This progress reflects the DFSA’s commitment to ensuring that both new entrants and established firms receive the necessary support to thrive. The DFSA remains steadfast in its commitment to supporting the growth of the Dubai International Financial Centre, and contributing to the prosperity of Dubai and the United Arab Emirates.”

As part of its commitment, the Authority continued collaborating with stakeholders, providing guidance and oversight. In 2024, it held 23 outreach sessions and four roundtables.

Al Ali added that the DFSA’s commitment extended beyond regulatory oversight and encompasses resilience and continuous improvement. A key priority was talent development, particularly in nurturing Emirati professionals through specialised initiatives that equip them with the skills and expertise needed to thrive in financial regulation.

“By fostering a supportive environment for Emiratis to excel, we are building long-term opportunities that contribute to both the DIFC and the nation’s economic future,” added Al Ali.

Ali AlRais, Associate Manager, Authorisation, and a recent DFSA’s ‘Tomorrow’s Regulatory Leader’ programme graduate, said: “At the DFSA, we believe that our stakeholder-centric approach can drive positive change across the financial sector.

“By balancing innovation, long-term growth, and social responsibility, we aim to build a financial ecosystem that benefits not only our financial institutions, but also the communities they serve.”

The Authority regulates and supervises financial services firms and markets in the DIFC. These include asset managers, banks, custody and trust services, commodities futures traders, fund managers, insurers and reinsurers, traders of securities and fintech firms.