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Hedge funds and wealth managers ‘are a boon’ for DIFC

By Shruthi Nair

The DFSA (Dubai Financial Services Authority) the independent regulatory agency that oversees financial services in the Dubai International Financial Centre, approved more than 60 new companies in the first half of 2024.

Patrick Meaney, head of enforcement at DFSA, says that many of them are wealth management companies or hedge funds, which is a “boon for the centre”.

Blockchain and cryptocurrency company Ripple was granted an in-principle licence in October, but Meaney says the authority is “picky” about cryptocurrency businesses and applies high standards of governance and compliance to all companies.

Watch the video to find out more about the DFSA

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