About 5,000 decision makers, policy makers and entrepreneurs participated
Maktoum bin Mohammed announces the launch of the "Dubai FinTech Summit" to consolidate the emirate's position as a leading global destination for financial technology
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, and President of the Dubai International Financial Center, announced today 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, may God protect him, 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 at a global level. the scientist.
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 Sheikh Maktoum bin Mohammed added: "The Dubai International Financial Center has succeeded over the years in providing real added value to international companies and financial institutions, and has strengthened 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 open new horizons for growth for the global financial sector in general.”
Positive effect
The summit will be organized by the Dubai International Financial Centre, the leading international financial center in the Middle East, Africa and South Asia region on May 8-9, 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 Through which 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 the positive impact of financial technology can be increased, whether on individuals or companies, as well as on economies in general.
The center houses the largest incubator for financial technology and innovation companies, which represent part of the global financial technology market estimated to be worth over $135.9 billion in 2021, while this market is expected to grow at an annual rate of 11.9% during the period extending from 2022 By 2027, its size will reach about 266.9 billion US dollars by 2027.
On this occasion, His Excellency Essa Kazim, Governor of the Dubai International Financial Center, 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 Regulators from around the world are working together to make tangible progress in 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 a strong growth in the number of financial technology and innovation companies registered in the DIFC, achieving an increase of 23% year on year. Today, the center includes more than 600 companies specialized in this field that contribute to the development of the sector, as well as On its role in promoting the economic growth of the UAE... We look forward to welcoming more influential partners in the financial sector and innovation coming 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.”
important axes
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 summit agenda will include a series of panel discussions and in-depth discussions on important themes, including: 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.
This 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" that was organized last June, with the wide participation of more than From 1,500 fintech and innovation companies, leading investment institutions, banks, policy makers and financial services firms, to discuss the factors driving the growth of the financial services sector.
Follow our latest local and sports news and the latest political and economic developments via Google news