Latest news with #Ignyte
Hi Dubai
3 days ago
- Business
- Hi Dubai
DIFC Achieves Record H1 2025 Performance, Strengthens Role as Global Financial Hub
Dubai International Financial Centre (DIFC) has recorded its best-ever half-year performance in H1 2025, marking a significant milestone in its mission to shape the future of finance and contribute to the Dubai Economic Agenda D33. A total of 1,081 new companies joined the Centre, bringing the number of active registered firms to 7,700, a 25% increase from the same period in 2024. The workforce within DIFC also grew by 9% to reach 47,901 professionals. DIFC continues to solidify its global standing, with Dubai ranked among the top global financial cities across key sectors like FinTech (5th), professional services (6th), and investment management (8th), according to the Global Financial Centres Index. The Centre is home to 980 DFSA-regulated entities, 289 banking and capital market firms, and 440 wealth and asset management firms, including 85 hedge funds and 69 billion-dollar funds. The number of family business-linked entities grew by 73%, while the foundations sector expanded by 54%. Insurance and reinsurance firms in DIFC reached 135, with gross written premiums for 2024 hitting USD 3.5 billion, up 35% year-on-year. DIFC also leads in FinTech and innovation, hosting 1,388 firms in this space — a 28% annual rise. The Ignyte platform, launched in late 2024, has already delivered AED 182 million in benefits, while flagship events like the Dubai AI Festival and FinTech Summit attracted over 20,000 participants. In education, the DIFC Academy enrolled a record 4,947 learners in H1 2025 and launched the '1 Million Learners' initiative targeting widespread sustainability knowledge. Its legal and regulatory frameworks evolved further with proposed updates on investment structures and global best practices, and DIFC will host the Global Privacy Assembly 2026. On the real estate front, DIFC Heights sold out in three days, and 1.6 million sq. ft. of commercial space is under development to meet growing demand. These achievements affirm DIFC's role in driving Dubai's competitiveness, innovation, and global appeal as a leading financial centre. News Source: Dubai Media Office
Fintech News ME
3 days ago
- Business
- Fintech News ME
DIFC Sees Record Growth in H1 2025 with 32% Surge in New Firms
Dubai International Financial Centre (DIFC) recorded its strongest first-half results to date, with continued growth across financial and innovation sectors, as well as increased participation from new companies and institutions. Between January and June 2025, a total of 1,081 new companies joined DIFC, representing a 32% increase compared to the same period in 2024. The total number of active firms now stands at 7,700. The increase reflects growing interest in Dubai and the DIFC as a base for regional and international operations. The number of firms regulated by the Dubai Financial Services Authority (DFSA) has reached 980. DIFC remains the only financial centre in the region operating at scale across banking, capital markets, asset management, insurance, and other financial services sectors. The Centre noted increased intra-community business activity as a result of this concentration. DIFC also reported a 72% rise in hedge fund registrations over the past 12 months, with 85 such entities now based in the Centre. The financial ecosystem includes 440 wealth and asset management firms, 289 banking and capital markets institutions, and 135 insurance-related companies. The number of family-related entities and foundations continues to grow, supported by Dubai's role as a regional wealth hub. DIFC is currently home to 1,035 family-related entities and 842 foundations. The innovation and technology segment also expanded, with 1,388 AI, fintech, and Innovation firms now operating within DIFC, a 28% year-on-year increase. Ignyte, the Centre's digital platform for start-ups, has delivered AED 182 million in documented benefits since its launch in late 2024. A proptech Hub has also been introduced to support innovation in the real estate sector, in line with Dubai's Real Estate Strategy 2033. To support ongoing growth, DIFC is developing over 1.6 million square feet of new commercial space, with occupancy expected to begin from Q1 2026. The workforce within the Centre increased by 9% over the past year to 47,901 people. The DIFC Academy, in partnership with 32 education and training providers, continues to support skills development across sectors. 'DIFC's continued success is powered by the best infrastructure, progressive legislation, robust regulation, and an unmatched community,' said Arif Amiri, Chief Executive Officer of DIFC Authority. 'Aligned with the D33 Agenda, we are not just driving the future of finance, we are building it together.'
Fintech News ME
07-07-2025
- Business
- Fintech News ME
Ruya and Ignyte Forge Strategic Alliance to Drive UAE Startup Innovation
Ruya and Ignyte have formalised their strategic partnership, bringing together ruya's digital‑first Islamic banking expertise and Ignyte's government‑backed, all‑in‑one start-up ecosystem to accelerate innovation across the UAE. The UAE's startup scene remains the region's most active, recording 188 funding rounds in 2024—the highest in MENA and Dubai is now recognised as one of the top five cities worldwide for FinTech. Launched in early 2024 and licensed by the Central Bank of the UAE, ruya has quickly redefined banking with a fully Shari'ah‑compliant digital platform and community centres that blend cutting‑edge technology with a commitment to fairness, transparency and social responsibility. By eliminating hidden fees, minimum‑balance requirements and lengthy onboarding, ruya ensures that entrepreneurs—from fintech start-ups and SME founders to freelancers and family businesses—can access the financial tools they need without friction. Ignyte, launched under Dubai's Digital Economy Strategy by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum in October 2024, has grown into the Emirates' premier ecosystem for founders, connecting more than 2,500 start-ups with mentors, investors and over 250 exclusive perks designed to drive growth and global expansion. This partnership will see ruya championing that ecosystem through co‑hosted events, mentorship programmes and a branded presence across Ignyte's channels, embedding ethical Islamic finance at the heart of Dubai's entrepreneurial journey. 'For founders navigating a fast‑evolving market, the fusion of digital agility and principled banking is game‑changing,' said Christoph Koster, CEO of ruya. 'Our alliance with Ignyte means that ethical financing and community support go hand‑in‑hand, empowering the UAE's next generation of innovators to scale with confidence'. 'By partnering with ruya, we are ensuring that our founders achieve success with integrity and community support. This collaboration equips entrepreneurs with the resources to innovate while promoting a culture of sustainable growth. Together, we aim to establish a strong foundation for the UAE's rapidly growing start-up scene, driving both local and global success.' said Mohammad Alblooshi Chief Executive Officer of DIFC Innovation Hub. Looking ahead, this strategic collaboration will not only enhance access to capital and expertise but also reinforce the UAE's vision to double its digital economy to AED 280 billion by 2031. By weaving together, the strengths of ruya's community‑focused Islamic banking model and Ignyte's dynamic startup platform, the partnership exemplifies how public‑private synergy can fuel sustainable growth and position the Emirates as a global leader in fintech and entrepreneurship.
Mid East Info
03-07-2025
- Business
- Mid East Info
Cigna Healthcare Becomes First Health Partner for UAE Startup Ecosystem Ignyte - Middle East Business News and Information
Companies registered with Ignyte gain access to tailored health plans from Cigna Healthcare Coverage includes mental health support, chronic condition care, and workplace wellness tools tailored for start-up companies. Dubai, UAE:July, 2025 – Cigna Healthcare Middle East, a global health services company, has signed a MoU with Ignyte, to provide comprehensive and scalable health coverage to start-ups registered with Ignyte. Ignyte is a key initiative under the Dubai Digital Economy Strategy, designed to drive exponential growth for start-ups across industries. This announcement makes Cigna Healthcare the first and exclusive healthcare provider associated with Ignyte. The agreement was signed during the Dubai FinTech Summit 2025, at Madinat Jumeirah, by Leah Cotterill, CEO of Cigna Healthcare Middle East and Africa (outside KSA), and Mohammad Alblooshi, Chief Executive Officer of the DIFC Innovation Hub. Cigna Healthcare will offer companies registered with Ignyte, access to affordable and flexible coverage plans that encompass founder and employee wellbeing, mental health, workplace wellness, and more. The policies also cover chronic health conditions, and plans can be scaled up as the startup continues to grow. Under the partnership, customers can benefit from exclusive discounts and a simple, hassle-free digital experience powered by Cigna Envoy®, featuring easy-to-use claim submission options. As Ignyte's go-to health and wellbeing partner, Cigna Healthcare Middle East is also able to tailor specific solutions for its 1,000+ startups and more than 100 mentors and investors. Leah Cotterill stated: 'Ignyte is shaping an exciting generation of businesses, and we are proud to be their go-to health and wellbeing partner. We believe that sustainable growth begins with investing in individuals. This partnership guarantees that startups and their teams have access to appropriate health solutions from the outset, enabling them to concentrate on building, scaling, and driving innovation with assurance. Mohammad Alblooshi said: 'Ignyte's mission is to empower entrepreneurs, and this partnership with Cigna Healthcare reinforces this goal by ensuring that all startups grow from a strong foundation of wellbeing. Health is not only a form of support, but it has also become a true strategic and competitive advantage in the business world.' Ignyte members can benefit from Cigna Healthcare's Employee Assistance Program (EAP), which provides access to work/life resources and licensed clinicians to help individuals cope with a wide variety of concerns, from family and financial issues to emotional health and stress. About Cigna Healthcare: Cigna Healthcare is a global health service company dedicated to helping people improve their health and vitality. With a heritage of over 250 years, Cigna Healthcare is committed to its promise of being together all the way in providing health care, clinical management, and wellness programs to employers, individuals, and governments around the world. Operating for more than 19 years in the Middle East region, Cigna Healthcare serves the GCC markets and Lebanon through its locally regulated entities. The company delivers both health and wellness services to individuals, employers, and government entities in the region. Cigna Healthcare has a deep understanding of the African continent for over 60 years, servicing over 250,000 members. Cigna Healthcare services corporates through direct partnerships with locally licensed insurers in each market, providing health insurance for local companies and multinationals. Cigna Healthcare maintains a global sales capability in 30 countries and jurisdictions, employing over 72,000 people who service more than 164 million customer relationships.
Zawya
03-07-2025
- Business
- Zawya
Cigna Healthcare becomes first health partner for UAE startup ecosystem Ignyte
Coverage includes mental health support, chronic condition care, and workplace wellness tools tailored for start-up companies. Dubai, UAE – Cigna Healthcare Middle East, a global health services company, has signed a MoU with Ignyte, to provide comprehensive and scalable health coverage to start-ups registered with Ignyte. Ignyte is a key initiative under the Dubai Digital Economy Strategy, designed to drive exponential growth for start-ups across industries. This announcement makes Cigna Healthcare the first and exclusive healthcare provider associated with Ignyte. The agreement was signed during the Dubai FinTech Summit 2025, at Madinat Jumeirah, by Leah Cotterill, CEO of Cigna Healthcare Middle East and Africa (outside KSA), and Mohammad Alblooshi, Chief Executive Officer of the DIFC Innovation Hub. Cigna Healthcare will offer companies registered with Ignyte, access to affordable and flexible coverage plans that encompass founder and employee wellbeing, mental health, workplace wellness, and more. The policies also cover chronic health conditions, and plans can be scaled up as the startup continues to grow. Under the partnership, customers can benefit from exclusive discounts and a simple, hassle-free digital experience powered by Cigna Envoy®, featuring easy-to-use claim submission options. As Ignyte's go-to health and wellbeing partner, Cigna Healthcare Middle East is also able to tailor specific solutions for its 1,000+ startups and more than 100 mentors and investors. Leah Cotterill stated: 'Ignyte is shaping an exciting generation of businesses, and we are proud to be their go-to health and wellbeing partner. We believe that sustainable growth begins with investing in individuals. This partnership guarantees that startups and their teams have access to appropriate health solutions from the outset, enabling them to concentrate on building, scaling, and driving innovation with assurance. Mohammad Alblooshi said: 'Ignyte's mission is to empower entrepreneurs, and this partnership with Cigna Healthcare reinforces this goal by ensuring that all startups grow from a strong foundation of wellbeing. Health is not only a form of support, but it has also become a true strategic and competitive advantage in the business world." Ignyte members can benefit from Cigna Healthcare's Employee Assistance Program (EAP), which provides access to work/life resources and licensed clinicians to help individuals cope with a wide variety of concerns, from family and financial issues to emotional health and stress. About Cigna Healthcare Cigna Healthcare is a global health service company dedicated to helping people improve their health and vitality. With a heritage of over 250 years, Cigna Healthcare is committed to its promise of being together all the way in providing health care, clinical management, and wellness programs to employers, individuals, and governments around the world. Operating for more than 19 years in the Middle East region, Cigna Healthcare serves the GCC markets and Lebanon through its locally regulated entities. The company delivers both health and wellness services to individuals, employers, and government entities in the region. Cigna Healthcare has a deep understanding of the African continent for over 60 years, servicing over 250,000 members. Cigna Healthcare services corporates through direct partnerships with locally licensed insurers in each market, providing health insurance for local companies and multinationals. Cigna Healthcare maintains a global sales capability in 30 countries and jurisdictions, employing over 72,000 people who service more than 164 million customer relationships. To learn more about Cigna Healthcare, visit MEDIA CONTACT: Khalid Yahya Account Director APCO Worldwide Email: kyahya@
