Dubai Financial Services Authority reports record 2025 growth, licences 182 new firms
DFSA’s 2025 annual report shows a 16% rise to 1,050 regulated entities, $147.4bn in bond listings and Dubai’s ascent to 7th in the global finance ranking.
The Dubai Financial Services Authority (DFSA) reported robust expansion in 2025, licensing 182 new firms and bringing the total number of regulated entities to 1,050, a 16 percent increase on 2024. The authority said the growth spans banking, capital markets, wealth and asset management, insurance and fintech as it advances regulatory reforms and market infrastructure. DFSA leaders highlighted the results as evidence of deepening investor confidence and the strengthening international role of the Dubai International Financial Centre (DIFC).
DFSA Licenses 182 New Firms, Regulated Entities Reach 1,050
The DFSA’s annual report for 2025 records the licensing of 182 new companies, increasing the regulated population to 1,050 entities as of December 31, 2025. This expansion included global systemically important banks, asset managers, capital markets firms and professional services, underscoring DIFC’s broadened industry mix. DFSA chair Fadel Al Ali said the figure reflects the authority’s efforts to support Dubai’s economic agenda and the DIFC 2030 strategy to be among the top four global centres for finance and innovation by 2033.
Dubai Climbs to 7th in Global Financial Centres Index
Since the reporting period ended, Dubai rose to seventh place in the Global Financial Centres Index 39 released in March 2026, marking the city’s highest ranking to date. DFSA executives cited the improved ranking as validation of regulatory enhancements, increased market liquidity and an expanding ecosystem of international firms. The authority said the climb in the GFCI complements its strategic targets and the emirate’s push to attract more cross-border capital.
Bond Listings and Sukuk Drive Capital Markets Growth
Capital markets activity showed significant momentum in 2025, with new bond issuances totalling $30.6 billion and total outstanding listings reaching $147.4 billion. The DIFC maintained its status as a leading domicile for sukuk, reporting $107.9 billion of sukuk listings within the centre. DFSA officials highlighted enhancements to market infrastructure and investor protections as key drivers that helped broaden participation in debt markets and boost issuance volumes.
Asset and Wealth Management Expansion Strengthens DIFC
Wealth and asset management continued to consolidate as a core pillar for the centre, with the fund management sector expanding to 121 licensed entities and $176 billion in assets under management. The wider wealth ecosystem comprises more than 320 licensed advisory and asset firms overseeing $220 billion in advisory assets. DIFC also ranked among the world’s five major hedge fund centres, hosting 87 hedge funds including two of the largest global vehicles, reflecting the centre’s growing appeal to alternative asset managers.
Banking Sector Posts 19% Annual Growth to $251 Billion
Banks operating within DIFC reported a combined consolidated balance sheet of $251 billion at the end of the fourth quarter of 2025, up 19 percent year-on-year and 195 percent since the end of 2015. Private banking and advisory services advanced strongly, with assets under advice rising to $103.8 billion, a 23 percent annual increase, and a client base surpassing 14,000 relationships. DFSA executives said the expansion demonstrates the centre’s ability to attract international banking operations while supporting local and regional client demand.
Insurance and Over-the-Counter Trading Reach New Peaks
The insurance segment recorded steady growth, with a 15 percent rise in insurance-linked entities and record gross premiums written. Reinsurers and reinsurance underwriters reported $4.24 billion in premiums, while brokers recorded $3.38 billion during the reporting year. Separately, the over-the-counter trading market posted unprecedented activity, with recorded trading value and volumes reaching $13 trillion in the fourth quarter of 2025, underscoring heightened market depth and liquidity outside listed exchanges.
DFSA leaders said regulatory modernization, risk-based supervision and ongoing investment in market infrastructure were central to the outcomes detailed in the report. Chief executive Mark Steward noted that the quantitative expansion is matched by qualitative improvements to the regulatory framework, aimed at preserving market integrity while enabling growth.
The authority also emphasized continued initiatives to boost market participation and investor confidence, including targeted reforms, enhancements to listings pathways and measures to support fund structuring and fintech adoption. DFSA said these measures are designed to sustain long-term competitiveness and align DIFC with international regulatory standards.
Looking ahead, the DFSA signalled its intention to maintain a calibrated approach to supervision while supporting the DIFC’s pursuit of higher global rankings and broader industry diversification. The 2025 results form part of the centre’s roadmap toward its 2030 objectives and the emirate’s wider economic aspirations through 2033.
The report’s metrics underscore a year of material growth across multiple financial segments, reinforcing Dubai’s accelerating role as a regional hub for capital formation, wealth management and specialised financial services.