Dubai offers financial companies ideal environment to advance growth, create economic value: Sheikh Maktoum

Dubai: Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, and President of Dubai International Financial Centre (DIFC), met global financial industry leaders on the sidelines of the inaugural Dubai FinTech Summit.

“Dubai continues to offer a base for the world’s leading financial companies to tap the vast opportunities emerging in the rapidly growing markets in the region by providing them a productive ecosystem and infrastructure that promote the creation of new economic value. As part of our strong ethos of partnerships with diverse industry stakeholders, Dubai constantly seeks new ways to work with international banking and financial companies to shape a new future for the industry in the region and contribute to the transformation of the global industry,” he said.

The meeting was attended by heads of some of the world’s largest financial service companies, including Bill Winters, Group CEO, Standard Chartered PLC; Jenny Johnson, President and CEO, Franklin Templeton; and Piyush Gupta, CEO, Development Bank of Singapore. The meeting was also attended by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs; Essa Kazim, Governor of Dubai International Financial Centre (DIFC); and Arif Amiri, CEO of DIFC Authority.

Noting that Dubai is one of the world’s top-ranked cities attracting foreign direct investment (FDI) to the financial services sector, Sheikh Maktoum said that the Dubai FinTech Summit reflects the emirate’s commitment to advance excellence both in the regional and global industry. Aligned with the goals of the Dubai Economic Agenda D33 to consolidate its status as one of the world’s top three cities, the emirate has launched many initiatives to support the growth and adoption of next-generation financial technologies and innovations that are accelerating the evolution of the industry and shifting paradigms in diverse sectors.

Under the theme of ‘New Global Home to the Future of FinTech and Finance’, the two-day Summit held on May 8 and 9 brought together global policymakers, C-suite executives, entrepreneurs and investors to discuss emerging trends and future possibilities in the industry. The summit featured more than 100 exhibitors, 120 speakers and delegates representing over 50 countries.