- DIFC continues to attract exceptional interest from FinTechs across the globe
- Arif Amiri, CEO of DIFC Authority led delegation at Singapore Fintech Festival, boosting collaboration with FinTechs in Asian markets
- Demonstrates DIFC’s commitment to supporting Dubai’s ambitions as a global capital for financial services and leading hub for financial technology and innovation
Dubai, UAE; 3 November 2022: Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, has continued to attract exceptional interest from financial technology firms, making FinTech the Centre’s fastest growing sector.
Client growth continues to be strong across all sectors, however, interest from FinTechs in the Centre has outpaced other sectors. This has been further amplified by DIFC’s strong schedule of impactful events and international roadshows that have showcased Dubai’s status as a preferred global FinTech and innovation hub.
A DIFC delegation is currently in Singapore, at the Singapore Fintech Festival, exploring collaboration opportunities and finalising commitments from firms in Asia. As a Silver Sponsor of the event and the only sponsor from the region, DIFC is illustrating its role as the most enabling platform in MEASA for FinTech firms, helping start-ups, global players and unicorns to expand their global reach and capture opportunities in fast-growing MEASA markets. Between January and September 2022, DIFC-based FinTech firms secured over AED 2bn (USD 559m) of funding.
Arif Amiri, CEO of DIFC Authority, is leading the DIFC delegation. During the visit, the delegation is highlighting Dubai’s position as a leading financial centre and global FinTech hub whose financial technology firms have access to education; entrepreneurship and accelerator programmes; mentoring and networking; operating and regulatory licences; access to funding and expertise through venture studios.
DIFC is committed to shaping the future of finance by introducing initiatives aligned to its 2030 strategy that continues to attract FinTech businesses and talent to Dubai at an unprecedented pace. In the first nine months of 2022, the number of FinTech and innovation firms joining DIFC exceeded the total that established operations during the whole of 2021.
Arif Amiri, CEO of DIFC Authority, said: “Dubai and DIFC have built the most comprehensive FinTech and innovation proposition in the Middle East, Africa and South Asia region. This has helped us become one of the world’s leading hubs for the sector and we are thrilled that DIFC is attracting high levels of interest from FinTechs in Asia. DIFC will continue to develop initiatives to further differentiate our strong reputation for FinTech, some of which we are looking forward to announcing soon.”
According to DIFC FinTech Hive’s 2022 FinTech Report, the market attained a value of more than USD135.9bn in 2021 and is expected to grow at a CAGR of 11.9 per cent in the forecast period of 2022-2027 to reach over USD266.9bn by 2027.[1] Funding activity for FinTech nearly doubled in 2021 and start-ups in MENA raised USD998mn in 2021, a 78 per cent increase from 2020.
About Dubai International Financial Centre
Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and an estimated GDP of USD 8 trillion.
With a close to 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe and the Americas through Dubai.
DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of almost 30,000 professionals working across over 4,000 active registered companies – making up the largest and most diverse pool of industry talent in the region.
The Centre’s vision is to drive the future of finance through cutting-edge technology, innovation, and partnerships. Today, it is the global future of finance and innovation hub offering one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups.
Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels and public spaces, DIFC continues to be one of Dubai’s most sought-after business and lifestyle destinations.
For further information, please visit our website: difc.ae, or follow us on LinkedIn and Twitter @DIFC.
[1] https://www.expertmarketresearch.com/reports/FinTech-market