Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum at the summit. Image Credit: Supplied

Dubai: The first Dubai FinTech Summit was opened by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE.

The two-day event is themed ‘New Global Home to the Future of FinTech and Finance’, and features 5,000 industry professionals, including policymakers, C-suite executives, entrepreneurs, investors and delegates. The Summit brings together over 100 exhibitors, 120 speakers and delegates representing over 50 countries.

“With Dubai providing one of the world’s best ecosystems to foster the growth of fintech innovation, it has become one of the leading hubs for driving value creation in the sector,” said Sheikh Maktoum in a statement. “The Summit will reinforce Dubai’s emerging role in shaping the future of the worldwide fintech landscape.

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“I am confident the inaugural Dubai FinTech Summit will also foster more cross-border collaboration between the public and private sectors, while offering a strong platform for fintech firms to tap into new growth opportunities.”

The opening keynote at the Summit was delivered by Essa Kazim, Governor of DIFC, who said: “DIFC has become a major engine of growth for Dubai’s economy and a significant contributor to its GDP. Having grown exponentially over the last 10 years, DIFC now contributes around 6 per cent of Dubai’s GDP.

Image Credit: Dubai Media Office

“DIFC continues to enhance its ecosystem to further accelerate innovation, testing, investment and growth. Dubai and DIFC have invested heavily in its FinTech ecosystem by creating a supportive and agile regulatory framework, providing access to funding, sand-box environments and resources for start-ups and established companies alike.

“Furthermore, the Dubai FinTech Summit presents a unique opportunity for collaboration between traditional financial institutions and fintech firms, especially with rapid AI advancements driving innovation within the sector.”