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Further work is needed to enhance the maturity of Dubai?s financial markets and financial infrastructure as the emirate continued to record exceptional progress in its drive to become the financial hub for Middle East and Whole of Africa, Cass Business School, part of City University London, said on Tuesday.
?Dubai is becoming increasingly important as a financial and trading entrepot for the Middle East and Whole of Africa (Mewa), with its strong recovery from the financial crisis testimony to its energy and creativity. The continuing strengthening of institutions and markets is key to securing ongoing progress at a turbulent time for both the region and the global economy,? Professor of Finance, Steve Thomas, said in a report released at Sibos.
The report, which identified the strength of Dubai as an international financial centre and the challenges it faced, came as DIFC?s continued to strengthen its position as the international financial centre of choice in the region by recording a seven per cent growth in the number of active registered companies to 979 during the first half of 2013.