Dubai has been ranked among the many world’s high 4 cities for FinTech within the newest International Monetary Centres Index (GFCI).
The popularity displays the success of DIFC in consolidating the emirate’s standing because the main international monetary centre within the Center East, Africa and South Asia.
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, mentioned: “Dubai’s rise as one of many world’s pre-eminent FinTech hubs is a testomony to the imaginative and prescient of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to not solely place Dubai on the forefront of the world’s main cities, but in addition to form the way forward for numerous sectors.
FinTech enterprise in Dubai
“Our progress within the newest Global Financial Centres Index has been pushed by the objective of the Dubai Financial Agenda D33 to make town one of many world’s high 4 international monetary hubs.
“This achievement additionally displays the belief the worldwide monetary group has in Dubai’s skill to offer an optimum atmosphere and infrastructure for progress, pushed by DIFC’s transformative initiatives.
“With our clear aspirations for the long run, we proceed to strengthen Dubai’s position as a power for innovation and a platform for alternative, advancing progress that can serve our nation, the area and the world.”
Coinciding with the announcement, DIFC revealed that the variety of AI, FinTech and innovation corporations within the Centre and its Innovation Hub has now exceeded 1,500.
Collectively, these pioneering corporations have raised a complete of greater than $4.2bn in funding, reinforcing DIFC’s position because the area’s most lively ecosystem for growth-stage know-how corporations and entrepreneurs.
Town additionally superior to eleventh place globally within the total GFCI rankings, reaffirming the belief of the worldwide finance business within the metropolis.
The outcome underscores how DIFC initiatives are serving to speed up the targets of the Financial Agenda D33 to place town among the many world’s high 4 international monetary centres.
Essa Kazim, Governor of DIFC, mentioned: “Dubai’s imaginative and prescient, guided by the management of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has at all times been to form the way forward for finance.
“At this time’s recognition within the International Monetary Centres Index reaffirms the emirate’s place as a worldwide power in FinTech and the broader monetary companies sector. Via DIFC, we’re enabling innovation, creating alternatives for progress, and making certain Dubai continues to play a number one position in defining the way forward for the worldwide economic system.”
Arif Amiri, Chief Government Officer of DIFC Authority, mentioned: “Dubai has change into one of many world’s 4 most influential FinTech hubs due to DIFC’s unwavering give attention to innovation, expertise, and know-how.
“At DIFC, we’re proud to be the platform that permits probably the most bold entrepreneurs, established establishments, and forward-thinking buyers to collaborate and thrive.
“This achievement demonstrates the arrogance the worldwide monetary group has in Dubai’s position as a catalyst for progress, and it motivates us to proceed driving the way forward for finance from right here in DIFC.”
The GFCI report additionally recognized town as the one monetary centre within the area recognised as a worldwide chief with each broad and deep capabilities.
Moreover, the UAE metropolis ranked first worldwide amongst monetary centres anticipated to change into extra vital sooner or later.