Financial centre of the 19th century. After 1870, Berlin and New York grew to become major financial centres mainly serving their national economies. An array of smaller international financial centers found market niches, such as Amsterdam, Brussels, Zurich, and Geneva. London remained the leading international financial center in the four decades leading up to World War I. Since then, London and New York have developed leading positions in different activities and some non-Western financial centres have grown in prominence, notably Tokyo, Hong Kong and Singapore. In Asia, Tokyo emerged as a major financial centre in the 1980s as the Japanese economy became
Dubai International Financial Centre is the Dubai Financial Services Authority (DFSA), which regulates the conduct of financial services in and from the DIFC. The DFSA is distinct from the UAE’s federal Securities and Commodities Authority, whose jurisdiction covers the wider UAE outside the boundaries of the DIFC. Licence applications are considered from financial institutions in the sectors. The units offer benefits such as 0% tax on income and profits, 100% foreign ownership, no restrictions on foreign exchange or capital/profit repatriation, operational support and business continuity facilities. One of the key elements of the centre is a privately held financial exchange that opened in September