Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, and President of DIFC, on Sunday announced the launch of the Dubai FinTech Summit, a global event that will bring together more than 5,000 experts, thought leaders, policymakers and decision-makers in Dubai to discuss how they can shape a new wave of innovation, enterprise and growth for the international financial industry.
To be organised by the Dubai International Financial Centre (DIFC), the summit will take place on May 8 and 9 at Madinat Jumeirah, Dubai. The event will see some of the world’s biggest personalities in the industry delivering keynote presentations, sharing their perspectives on industry challenges and identifying opportunities to maximise the impact of fintech for people, businesses and economies.
Home to the region’s largest cluster of fintech and innovation businesses, DIFC is one of the brightest growth spots in the global fintech market valued at more than $135.9 billion in 2021. The global market is expected to grow at a CAGR of 11.9 per cent between 2022 and 2027 to reach a value of over $266.9 billion by 2027.
“With FinTech emerging as a positive disruptor for transforming the financial landscape, the UAE is leveraging the opportunities brought by FinTech to reinvent the financial services sector,” Sheikh Maktoum said.
“DIFC’s ability to create value for companies in the sector by providing them a highly productive ecosystem to accelerate growth has led to leading innovators and entrepreneurs in the sector gravitating to the emirate. The Dubai FinTech Summit will help open new horizons of opportunity and transformation for both the global FinTech sector and the worldwide financial industry.”
Essa Kazim, Governor of DIFC, added: “The Dubai FinTech Summit will bring together ideas, knowledge and perspectives that can help unlock a new phase of exponential growth for the global financial sector and fintech in the global economy. DIFC will leverage the platform offered by the Summit to bring together banks, Fintechs and regulators from across the world to further stimulate the digital advancement of the financial sector.”
“We already have over 600 fintech and innovation firms in DIFC who are changing the face of the industry and contributing to the economic growth of our country. The 23 per cent expansion that DIFC’s fintech community saw in the first half of this year is a testament to the dynamic growth-friendly platform that we offer financial companies from across the world. We remain focused on bringing more exciting players in the sector to Dubai and helping them to access opportunities here and across the region.”