Dubai skyline
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Dubai: Dubai has been recognised as the seventh FinTech location globally for economic potential, highlighting Dubai’s efforts to support and expedite sustainable economic growth, according to a statement from Dubai Media Office. Dubai is the only financial centre in the MEASA region to appear within the top 10 FinTech Locations of the Future 2019/20 for Economic Potential index by fDi Intelligence — the Financial Times.

The DIFC has welcomed the inaugural report, published this month by investment monitor fDi, which recognises the enormous potential of FinTech to ignite economies and deliver sustainable financial sector growth. The report highlights the regulatory and legal framework, ease of doing business, representation of leading world banks and talent pool as key factors influencing the top ten ranking. The index further cements the global status of Dubai as a leading FinTech capital following the Centre’s ranking as a top 10 hub by Financial Times Group’s The Banker.

Commenting on the new milestone for Dubai, Arif Amiri, Chief Executive Officer, DIFC Authority, said: “We welcome the continued recognition of Dubai as an international hub for FinTech and innovation. This ranking further enhances Dubai’s global standing and asserts the DIFC’s reputation and capabilities as one of the world’s most advanced financial centres, reinforcing our position as one of the world’s leading FinTech ecosystems. Innovation and financial technology are key drivers in our strategy to become the world’s pivotal centre for sector disruption. The DIFC is leading financial sector transformation, supporting the advancement of the UAE economy, whilst developing a dynamic digital infrastructure in the new FinTech landscape, which allows innovation to thrive. Dubai’s ranking as a top ten FinTech location of economic potential further demonstrates the strong promise of the destination for growth.”