With a growth of 54% in 2022

599 DFSA regulated firms

  • The continued growth of the DIFC reflects Dubai's attractiveness as a global business hub. Archival

  • Fadel Al-Ali: "The licenses granted to companies last year included several types of financial activities, as well as the registration of more innovative companies."


The Dubai Financial Services Authority (DFSA) has announced a 54% growth in its corporate licences over the past year, with 599 firms operating under its supervision as of the end of 2022.

"The past year has been successful and prosperous for the DFSA," said Fadhel Al Ali, Chairman of the DFSA, during a press interview, noting that the licenses granted to companies included several types of financial activities, as well as the registration of more innovative companies, through the Innovation Testing Licensing Scheme (ITL).

Al Ali added that "the continuous growth witnessed by the DIFC reflects the attractiveness of Dubai and the UAE, an innovative global business center, in addition to the great potential of the country as an attractive place to establish businesses and live," pointing out that this was evident during the UAE's handling of the global crisis caused by the outbreak of the Corona pandemic, and its ability to deal with unprecedented flexibility that led to the rapid recovery of the economy, business recovery, and the results of institutions and companies.


Al Ali stressed that the DFSA has continued to keep pace with this growth, especially in the field of employment, where the number of employees reached about 193 employees, forming a team of 39 different nationalities, pointing to the Authority's interest in enhancing Emiratisation efforts, as nationals represent about 30% of the Authority's workforce.

In November last year, the DFSA introduced its Crypto and Currency Regulation Regulation, which aims to regulate blockchain innovation in a more transparent and regulated manner, thus enhancing the implementation of the DFSA's regulatory objectives.

Al-Ali expected the Authority to continue to work to support the development of this sector, by studying further changes and amendments that are in line with best practices and international standards.

Future Plans

On the DFSA's future plans, Al Ali said: "The Business Plan 2023-2024 has identified key axes to lead the DFSA's business directions in the next two years," stressing the importance of continuing to adhere to international standards and high-quality regulatory procedures, as well as best practices to promote an enabling business environment, to support the continued growth of the DIFC and the economy of Dubai and the UAE.

New Companies

Ian Johnston, Chief Executive of the DFSA, revealed that the DFSA recorded the highest number of licences in a single year in 2022, with 89 new firms licensed, and the DIFC announced a 20% year-on-year increase in the growth of active firms in the centre, and a 22% increase in the number of new employees in the centre.

"DIFC is home to 25 of the 30 major global banks, five of the top 10 insurance companies, five of the top 10 asset managers and several global legal and advisory firms," Johnston said.

• 30% of the DFSA's workforce is Emiratis.