Announcing the launch of the Dubai Financial Technology Summit, with the participation of 5,000 decision makers and entrepreneurs
Maktoum bin Mohammed: Dubai is an influential player in the development of the global financial sector
The Dubai International Financial Center is the largest incubator for financial technology and innovation companies.
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His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance and President of the Dubai International Financial Center, announced yesterday the launch of the Dubai Financial Technology Summit, with the participation of more than 5,000 experts, decision makers and policy makers in Dubai, the region and the world. To shape the future of the global financial sector.
His Highness stressed that the summit translates the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to transform Dubai into a global center for innovation and to confirm its contribution as a driving force with a tangible positive impact in developing a promising future for the financial sector worldwide. ».
His Highness said: "The UAE realized from an early age the growing role of financial technology and its great impact in changing the features of the global financial services landscape, and then the state took the initiative to establish the foundations that would enable it to play a positive and effective role in developing and reshaping the features of this vital sector and supporting its ability to grow. .
Dubai has created the legislative and regulatory frameworks and infrastructure necessary to strengthen its position as a global hub for advanced financial services.”
His Highness added: "The Dubai International Financial Center has succeeded over the years in providing real added value to international companies and financial institutions, and has enhanced Dubai's contributions as an influential player in the development of the financial sector globally by creating an environment that supports the growth of its institutions and the prosperity of their businesses.
The center's efforts have resulted in attracting the most important and prominent institutions and experts in financial innovation and entrepreneurs.
We are confident that the convening of the Financial Technology Summit in Dubai will have a clear impact in identifying more growth opportunities for the financial technology sector, and thus opening new growth prospects for the global financial sector in general.”
His Highness said in a tweet on Twitter yesterday: "The Dubai International Financial Center will organize next May (the Dubai Financial Technology Summit), which brings together experts, decision-makers, policies and entrepreneurs, to chart the future of the financial technology sector.
Dubai continues, as it always does, in creating the future of the financial sector and achieving global leadership in this sector.”
The summit will be organized by the Dubai International Financial Center, the leading international financial center in the Middle East, Africa and South Asia, on May 8 and 9, 2023, at the Madinat Jumeirah Conference Center in Dubai, while the event will witness the participation of a group of the most important financial industry figures to discuss a number of pressing topics, which Through it, they will present their visions and ideas about the most prominent challenges surrounding the sector, the solutions needed to overcome them, and identify opportunities through which to increase the positive impact of financial technology, whether on individuals or companies, as well as on economies in general.
The center is the largest incubator for financial technology and innovation companies, which represent part of the global financial technology market, which is estimated to be worth more than $135.9 billion in 2021, while the market is expected to grow at an annual rate of 11.9% during the period from 2022 to 2027, and its size will reach about $266.9 billion by 2027.
On this occasion, the Governor of the Dubai International Financial Center, Issa Kazim, said: “The Dubai FinTech Summit will be a milestone and an important step towards achieving the aspired growth of the financial sector and the global economy in general, with the event attracting a distinguished crowd of banking sector experts, financial technology companies and representatives of regulatory authorities. From all over the world, to work together to make tangible progress in the field of digital financial services, a goal that the DIFC continues to play a leading role in achieving.”
He added: “The first six months of 2022 witnessed strong growth in the number of FinTech and innovation companies registered in the DIFC, with an increase of 23% year-on-year.
Today, the center includes more than 600 companies specialized in this field, contributing to the development of the sector, as well as its role in promoting the economic growth of the UAE.
We look forward to welcoming more influential partners in the financial sector and innovation to Dubai from around the world, and we, in turn, spare no effort to enable our partners to access the promising opportunities in the region’s markets.”
The Dubai Financial Technology Summit seeks to produce tangible results from reports, strategies and action plans to draw a clear road map for the future of the global financial sector.
The agenda of the summit will include a series of dialogue sessions and in-depth discussions on important themes, most notably: the future of the financial technology sector, embedded and open financing, in addition to sustainability, Web 3.0 technologies and digital assets.
The summit will provide an ideal opportunity for more than 100 companies operating in the financial technology sector to showcase the latest technologies and innovations specialized in this field.
Deputy Ruler of Dubai:
■ «The summit translates the vision of Mohammed bin Rashid, transforming Dubai into a global center for innovation».
■ "Dubai has created the necessary frameworks to enhance its position as a global hub for advanced financial services."
global event
The “Dubai FinTech Summit” is the first time that the UAE and Dubai host a global event of this importance in the field of financial technology, while the event builds on the success of the “FinTech Week in the Dubai International Financial Center”, which was organized in June Last year, with a wide participation of more than 1,500 companies specialized in financial technology and innovation, leading investment institutions, banks, policy makers, and financial services companies, to discuss the factors supporting the growth of the financial services sector.
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