DIFC introduces package of relief measures to support clients

Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, is introducing a targeted package of temporary economic support measures to assist its business and retail community as the region emerges from the current environment.

Effective immediately, the initiatives are designed to ease short-term operational and financial pressures.

His Excellency Arif Amiri, Chief Executive Officer of DIFC Authority commented: “At DIFC, we stand alongside our clients, partners and employees with a clear commitment to provide support and reassurance when it is needed most. The package of temporary relief measures we are introducing reflects a thoughtful and proactive approach to easing immediate pressures, while reinforcing the strength, resilience and long-term sustainability of the DIFC ecosystem. We remain confident in the fundamentals of our community and its ability to emerge stronger, which in turn will ensure Dubai continues to advance its position as one of the world’s leading global financial centres.”

Initiatives being introduced by the DIFC Authority include Flexible payment plans for both the retail and commercial sectors, installment plans for licence renewal fees and additional support for retailers. There will also be grace periods on certain administrative payments relating to lease contracts, Registrar of Companies, Data Protection Department and registering employees into DEWS.

Additionally, the DFSA is introducing temporary regulatory relief measures to support new firms seeking authorisation and existing regulated firms in Dubai International Financial Centre.