The Dubai Financial Services Authority (DFSA) has published a Thematic Review report on High-Growth Firms operating in or from the Dubai International Financial Centre (DIFC), focused on the drivers for expansion in the DIFC and associated risks.
The Review, which is part of DFSA’s wider strategy to support companies operating in the DIFC to grow in a controlled and sustainable manner, examines the impact of high growth on Firms’ financial resources, systems and controls, processes, and staffing – assessing current and emerging risks and providing recommendations to address those risks.
While the report identified key areas for improvement – such as compliance resourcing not keeping pace with firms’ rate of growth; and limited management information to monitor the impact of new growth areas on the business – it also highlights good practices, such as firms engaging with the DFSA at an early stage on growth plans, taking an incremental approach to launching new products and services, enhancing governance structures to support expansion, and proactively investing in key resources ahead of growth initiatives.
The DFSA encourages Firms to review the findings and consider their application to their own operations.
The Thematic Review report on High-Growth Firms is available here.
