- Arif Amiri, CEO of the DIFC Authority led the delegation at the Singapore Fintech Festival, strengthening cooperation with FinTechs in Asian markets
- Demonstrates DIFC’s commitment to supporting Dubai’s ambitions as a global financial services capital and a leading hub for financial technology and innovation
Dubai, UAE: The Dubai International Financial Center (DIFC), the leading global financial center in the Middle East, Africa and South Asia (MEASA), has continued to attract exceptional interest from financial technology firms, making FinTech the centre’s fastest growing sector.
Customer growth continues to be strong across all sectors, but interest from FinTechs in the center has surpassed other sectors. This has been further enhanced by DIFC’s strong schedule of impactful events and international roadshows that have demonstrated Dubai’s status as a preferred global FinTech and innovation hub.
A DIFC delegation is currently in Singapore, at the Singapore Fintech Festival, to explore collaboration opportunities and finalize commitments from firms in Asia. As the silver sponsor of the event and the only sponsor from the region, DIFC illustrates its role as the most enabling platform in MEASA for FinTech firms, helping start-ups, global players and unicorns to expand their global reach and capture opportunities in fast-growing MEASA markets . Between January and September 2022, DIFC-based FinTech firms secured over AED 2 billion (US$559 million) in funding.
Arif Amiri, CEO of the DIFC Authority, is leading the DIFC delegation. During the visit, the delegation highlights Dubai’s position as a leading financial center and global FinTech hub whose financial technology firms have access to education; entrepreneurship and accelerator programs; mentoring and networking; operating and regulatory licenses; access to funding and expertise through venture studios.
DIFC is committed to shaping the future of finance by introducing initiatives aligned with its 2030 strategy that continue to attract FinTech businesses and talent to Dubai at an unprecedented pace. In the first nine months of 2022, the number of FinTech and innovation firms joining the DIFC exceeded the total that set up business in the whole of 2021.
Arif Amiri, Chief Executive of the DIFC Authority, said: “Dubai and the DIFC have built the most comprehensive FinTech and innovation proposition in the Middle East, Africa and South Asia region. This has helped us become one of the world’s leading hubs for the sector, and we are thrilled that DIFC is attracting high levels of interest from FinTechs in Asia. DIFC will continue to develop initiatives to further differentiate our strong reputation for FinTech, some of which we look forward to announcing soon.”
According to DIFC FinTech Hive’s 2022 FinTech Report, the market achieved a value of more than USD 135.9 billion in 2021 and is expected to grow at a CAGR of 11.9 percent during the forecast period 2022-2027 to reach over USD 266.9 billion by 2027.[1] FinTech funding activity almost doubled in 2021 and startups in MENA raised USD 998 million in 2021, a 78 percent increase from 2020.
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About Dubai International Financial Center
The Dubai International Financial Center (DIFC) is one of the world’s most advanced financial centers and the leading financial hub for the Middle East, Africa and South Asia (MEASA), comprising 72 countries with an approximate population of 3 billion and an estimated GDP of 8 trillion dollars.
With a nearly 20-year track record of facilitating trade and investment flows across the MEASA region, the center connects these fast-growing markets with the economies of Asia, Europe and the Americas through Dubai.
The DIFC is home to an internationally recognized, independent regulator and a proven legal system with an English common law framework, as well as the region’s largest financial ecosystem with almost 30,000 professionals working across over 4,000 active registered companies – making up the largest and most diverse pool of industrial talent in the region.
The centre’s vision is to drive the finance of the future through ground-breaking technology, innovation and partnership. Today, it is the global future of finance and innovation hub offering one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, tailored regulation, innovative accelerator programs and growth start-up funding. -oops.
Comprised of a range of world-renowned retail and dining venues, a dynamic arts and culture scene, residential apartments, hotels and public spaces, DIFC continues to be one of Dubai’s most sought-after business and lifestyle destinations.
For more information, please visit our website: difc.ae, or follow us on LinkedIn and Twitter @DIFC.
For media enquiries, please contact:
Omar Nasro | ASDA’A BCW
[email protected]
www.asdaa-bcw.com | www.arabyouthsurvey.com
Rasha Mezher | Dubai International Financial Center Authority
Consultant, marketing and corporate communication
[email protected]
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