Dubai is the seventh largest in the world in terms of economic potential of financial technology

Dubai ranked 7th in the world in terms of economic potential of financial technology, highlighting the emirate's efforts to support and accelerate sustainable economic growth.

Dubai is the only financial center in the Middle East and Africa to be listed in the `` Top 10 Future Global Financial Technology Hubs '' in the Index of Economically Promising Cities for 2019-2020, according to the FDI Intelligence magazine of the Financial Times. .

The Dubai International Financial Center (DIFC) welcomed the release of the first edition of this report, published this month, which outlines the enormous contribution of the financial technology sector to the strengthening of economies and the sustainable growth of the financial sector.

In the ranking of the top 10, the report considers several key factors, including the regulatory and legal framework, ease of doing business, the remarkable presence of the world's leading banks, and the large pool of talent.

The index results confirm Dubai World's position as a leading financial technology center, after the Dubai International Financial Center (DIFC) ranks among the top 10, according to the Financial Times magazine.

Arif Amiri, Chief Executive Officer of the DIFC Authority, said: “We welcome Dubai's continued recognition as a leading global center for financial technology and innovation. In addition to supporting our position as one of the world's leading financial technology systems. ”

“Innovation and financial technology are key factors in our strategy to become the most distinguished and leading the world in adopting advanced financial technologies,” Amiri said, noting that the financial center is currently leading the transformation within the financial sector, as well as driving the UAE economy and commitment A proven digital infrastructure that will continue to drive innovation and prosperity in financial technology.

“Dubai's ranking as one of the top 10 financial technology centers in terms of economic potential is compelling evidence of the emirate's commitment to continue its strong growth.”