Dubai will host the FinTech conference next year as it drives the future of finance
Dubai will host a FinTech summit next year, as the emirate continues efforts to consolidate its position as a global financial technology hub.
The Dubai FinTech Summit, which will be organized by the Dubai International Financial Centre, will take place on May 8 and 9, Sheikh Maktoum bin Mohammed, Deputy Prime Minister and Minister of Finance, and President of DIFC, tweeted on Sunday.
The forum will bring together more than 5,000 global experts, thought leaders, decision-makers and decision-makers “to discuss the future of the FinTech sector”, Sheikh Maktoum said.
“The summit will continue to cement Dubai’s leading role in shaping the future of finance,” he said.
May next year, @DIFC will organize the “Dubai FinTech Summit”, which brings together thought leaders, experts, decision-makers and decision-makers to discuss the future of the FinTech sector. The summit will continue to cement Dubai’s leading role in shaping the future of finance. pic.twitter.com/S7PKxBblHU
— Maktoum Bin Mohammed (@MaktoumMohammed) 6 November 2022
FinTech remained the highest-funded sector across emerging venture markets — which includes the Middle East — in the first half of 2022, more than tripling to nearly $1.68 billion in the first half from a year ago, startup data platform Magnitt said in a recent study .
The global FinTech market is expected to grow at a compound annual rate of 11.9 percent between 2022 and 2027 to reach more than $266.9 billion by 2027, according to a report by Expert Market Research.
Home to the region’s largest cluster of FinTech and innovation businesses, DIFC is one of the biggest drivers in the sector.
Funding activity for the sector almost doubled in 2021, with those in the Middle East and North Africa region alone raising nearly $1 billion, up 78 percent from 2020, said FinTech Hive, the start-up accelerator backed by the DIFC. in its annual report.
“DIFC’s ability to create value for companies in the sector by providing them with a highly productive ecosystem to accelerate growth has led to leading innovators and entrepreneurs in the sector gravitating to the emirate,” Sheikh Maktoum said in a statement issued by the Dubai Media Office.
“The Dubai FinTech Summit will help open new horizons of opportunity and transformation for both the global FinTech sector and the worldwide financial industry.”
The summit is expected to generate concrete results, including reports, strategies and action plans that can help chart the way forward for the financial industry, the statement says.
The agenda will feature in-depth discussions across key tracks including the future of FinTech, embedded and open finance, sustainability, Web3 and digital assets.
The forum will also provide an opportunity for more than 100 FinTechs and Future of Finance players to showcase their latest technology and innovations, the media office said.
“The DIFC will leverage the platform provided by the summit to bring together banks, FinTechs and regulators from around the world to further stimulate the digital evolution of the financial sector,” said Essa Kazim, Governor of the DIFC.
“We already have over 600 FinTech and innovation firms in the DIFC changing the face of the industry and contributing to the economic growth of our country.”
Next year’s summit will build on DIFC FinTech Week held in June this year, with the participation of more than 1,500 FinTech innovators, investment firms, banks, decision makers and service providers in the region.
Investments in the FinTech sector will continue to remain on the radars of venture capital and investment funds, despite slowing economic growth and growing concerns about a global recession, the two-day event, targeting key FinTech players, highlighted at the time.
Updated: November 6, 2022, 4:31 p.m
