Dubai International Financial Centre Reports Fintech Ecosystem Gains Further Momentum in 2018

Dubai International Financial Centre (DIFC), an international financial hub in the Middle East, Africa and South Asia (MEASA) region, announced on Monday important developments in its Fintech ecosystem that further strengthen its position as MEASA’s number one and one of the world’s top ten FinTech hubs. The hub reported the following developments:

  • Five new FinTech start-ups join the Centre, including the region’s first InsurTech and DIFC’s first RegTech firms
  • The Academy launches series of courses focused on new technologies in the financial services industry
  • DIFC FinTech WorkHub to provide an interactive and collaborative workspace
  • Commercial licensing for FinTech, RegTech and InsurTech firms
  • Dubai ranked as MEASA’s number one and among the world’s top 10 FinTech hubs

Arif Amiri, CEO of DIFC Authority, stated:

“Driving the future of finance and promoting financial inclusion in the region are at the top of Dubai’s agenda and our agenda at DIFC. Delivering on this commitment, we are proud of the integrated and dynamic ecosystem we have built, and the various forward-looking initiatives we launched to support it. Looking ahead, we have even bigger ambitions for the future of financial services in the region and are keen to further enhance our infrastructure to encourage the development of more innovative, disruptive businesses from the Centre.”

The Centre also recently welcomed five new start-ups and SMEs to its growing fintech community, including insurtech Virtual i and Amani and regtech Regulation Technology Solutions. DIFC then added it is also increasing its commitment to fintech in 2018 with the launch of two new Fintech Hive programmes, focusing on regtech and insurtech. The insurtech will focus on start-ups that specialize in finding technological solutions for insurance companies, while regtech will focus on companies specialized in issues pertaining to regulation.

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