DUBAI – Dubai will host the first ever Dubai FinTech Summit on May 8 and 9 under the patronage of HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance.
The summit will be organized by the Dubai International Financial Center (DIFC) in Madinat Jumeirah and will bring together over 5,000 global FinTech C-suite executives and technology experts to discuss the latest innovations and challenges in the sector.
The global FinTech sector is growing rapidly and is forecast to be valued at $305 billion globally by 2025, according to Research and Markets, an intelligence and market analysis firm. In the Middle East, Africa and South Asia (MEASA) region, the industry is expected to double in value from $135.9 billion in 2021 to $266.9 billion in 2027, according to the 2022 report by the DIFC FinTech Hive.
The Dubai FinTech Summit will provide a unique platform for startups, investors and industry leaders to connect and leverage the growing FinTech market in the region and beyond. The MENA region’s FinTech startup and venture capital landscape is booming, with over 800 FinTech startups worth $15.5 billion, according to data from dealroom.co.
Dubai alone is home to over 20% of the world’s FinTech companies, according to the UAE Fintech Market – Growth, Trends, and Forecasts (2023 – 2028) Report by Mordor Intelligence. The FinTech Summit will feature a series of panel discussions, fireside chats and over 100 FinTech exhibitors.
Mastercard’s 2022 Digital Payments Index report reveals that digital payments are gaining ground in the MENA region. More than 85% of respondents reported using at least one emerging payment method in the past 12 months, indicating a shift away from cash-based transactions.
Among the MENA countries, the UAE stands out as ready to embrace a cashless society. According to event co-host sponsor Visa, 52% of UAE consumers are already cashless or plan to be cashless by 2024.
The summit will feature a number of prominent speakers from both local and international arenas. Keynote speakers include Abdullah bin Touq Al Marri, Minister of Economy; Bill Winters, CEO of Standard Chartered; Brad Garlinghouse, CEO of Ripple; Piyush Gupta, CEO of DBS Bank Singapore; Jenny Johnson, President and CEO of Franklin Templeton; and Brian Armstrong, CEO and co-founder of Coinbase, among others.
Highlighting the importance of the Dubai FinTech Summit, Mohammad Alblooshi, Head of the DIFC Innovation Hub and FinTech Hive, said: “Almost 60% of all FinTech companies in the GCC are currently based in the city. With the industry growing at an unprecedented rate, it is imperative for stakeholders to come together and discuss the challenges and opportunities that lie ahead. The Dubai FinTech Summit promises to bring together the most prominent figures in the industry with an agenda that will captivate and inspire audiences worldwide.”
The summit will offer participants a platform to engage in discussions and exchange ideas on emerging trends, regulatory frameworks and future opportunities. The event will feature discussions on a range of topics including ‘Building the Economies of the Future’, ‘Crypto and the Evolving Regulatory Framework’, ‘The World of Finance: Where are the Women?’, and ‘Building a Resilient and Sustainable Financial Sector in an age of disruption’.
Attendees will have the opportunity to gain valuable insight into these critical issues from industry leaders and experts.
The panel discussions will provide a platform for experts to share their insights on current and future issues in the FinTech industry and explore how they can shape the future of the financial sector. The agenda promises to be informative and insightful, and provides valuable opportunities for networking and collaboration between the participants.
