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UAE: Sheikh Maktoum Opens First Dubai Fintech Summit



Maktoum bin Mohammed opens inaugural Dubai FinTech summit

The first Dubai Fintech Summit was held for 2 days at the Madinat Jumeirah from 8th and 9th May. The theme for the vent is ‘New Global Home to the Future of FinTech and Finance.’

The summit brought together 5000 industry professionals, including policymakers, entrepreneurs, delegates, and investors. There were more than 100 exhibitors, 120 speakers, and executives representing more than 50 nations. The event was hosted by DIFC, which is among the top international financial hubs in the Middle East, Africa, and South Asia (MESA) region.

2 days of insightful discussions on the present and future of Dubai’s financial landscape.

The First Deputy ruler, Deputy Prime minister, and Minister of Finance of the UAE, and the President of the Dubai International Financial Centre, Sheikh Maktoum inaugurated the summit and shared his high hopes for the programs and their effect on Dubai’s economic roles.

First Dubai FinTech Summit

He stated that the participation of the leaders and other top professionals and talents from different parts of the globe in the summit is evidence that Dubai plays a prominent role in the upbringing and implementation of the latest innovations in the region’s financial scene.

With Dubai’s financial and investment sector being a fertile ground for the growth of FinTech innovations, it has developed into a top destination for driving value creation in the sector, proving again that Dubai has one of the world’s best ecosystems to foster growth in this sector.

He also shared that the summit will strengthen Dubai’s role in sculpting the future of the global FinTech situation. Sheikh Maktoum confidently added that the inaugural summit will be fostering more cross-border cooperation between the private and public fields simultaneously offering a rigid stage for FinTech hubs to explore and grow with the new opportunities. There were over 20 MoU agreements signed at the FinTech Summit for boosting cross-border collaboration.

His Excellency Essa Kazim, the governor of DIFC delivered the opening note at the summit. He said at the occasion that the DIFC has become a major support for the growth of Dubai’s economic landscape in addition to being an integral contributor to its GDP.

He also added that the DIFC has grown exponentially over the time of the past 10 years and has evolved into a capacity enough to contribute almost 6 percent of Dubai’s GDP.

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Day 1 of the summit demonstrated debates and discussions on the areas of start-ups Investment Wealth, Regulation, Policymaking, Digital payments, and many more insightful talks. Day 2 also saw engaging discussions and talks on ‘Navigating the New World order’, ‘How the governments and regulators be innovators,’ and ‘Central Bank Digital Currency: Is This The Future Of Money’.

Some of the imminent speakers at the vent were the UAE Minister of Economy, Abdullah bin Touq Al Marri; Group Chief Executive of Standard Chartered PLC, Bill Winters; the CEO of Ripple Brad Garlinghouse; the CEO of DBS Bank Singapore, the CEO and Co-founder of Coinbase, Brian Armstrong and the President and CEO of Franklin Templeton, Jenny Johnson, and many more distinguished dignitaries.

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