Latest news with #GlobalFinancialCentreIndex
Business Recorder
25-06-2025
- Business
- Business Recorder
UAE fintech market set to hit $5.71 billion by 2029
The United Arab Emirates (UAE) fintech market is expected to grow from $3.16 billion in 2024 to $5.71 billion by 2029, according to 'From code to capital: The UAE's FinTech revolution' 2025 report, published by Emirates NBD, in collaboration with PwC. It was previewed at the recent Dubai Fintech Summit 2025, where it was revealed that fintech startups in the UAE attracted around $265 million in 2024 – approximately one-third of total startup funding in the country. It also highlighted the proliferation of digital adoption, venture capital investment, as well as the widespread integration of artificial intelligence (AI). UAE boasts over 90% smartphone penetration and 88% regular use of digital payments, according the report. Neeraj Makin, group head of strategy, analytics and venture capital at Emirates NBD said, 'UAE's $265 million of fintech funding in 2024 signals strong investor confidence. Bolstered by a robust venture capital network, diverse talent, and clear exit paths, the UAE is primed to attract even greater investment and cultivate future FinTech leaders'. Stephen Anderson, Strategy Leader at PwC Middle East, said, 'This report illuminates the dynamic fintech landscape within Dubai. We see a region transformed by innovation, driven by technology and visionary strategies,' he was quoted as saying. The report also highlighted the impact of AI in transforming every layer of financial services from personalisation to compliance and risk modeling. In 2024, Dubai's venture-capital-backed FDI soared 39 per cent, attracting $222 million that flowed into startups based in Dubai – underscoring the city's growing appeal among global venture firms. Dubai was also recently ranked in the top five cities for fintech in the latest edition of Global Financial Centre Index (GFCI) rankings, with success being attributed to the contributions of the Dubai International Financial Centre (DIFC) over the past 20 years.
Business Recorder
25-06-2025
- Business
- Business Recorder
UAE FinTech market set to hit $5.71 bn by 2029
The UAE FinTech market is expected to grow from $3.16 billion in 2024 to $5.71 billion by 2029, according to 'From code to capital: The UAE's FinTech revolution' 2025 report, published by Emirates NBD, in collaboration with PwC. It was previewed at the recent Dubai FinTech Summit 2025, where it was revealed that fintech startups in the UAE attracted around $265 million in 2024 – approximately one-third of total startup funding in the country. It also highlighted the proliferation of digital adoption, venture capital investment, as well as the widespread integration of AI. This surge has been powered by widespread consumer adoption, investor confidence, and strong partnerships across public and private sectors, added the report. Neeraj Makin, group head of strategy, analytics and venture capital at Emirates NBD said, 'The UAE's $265 million of FinTech funding in 2024 signals strong investor confidence. Bolstered by a robust venture capital network, diverse talent, and clear exit paths, the UAE is primed to attract even greater investment and cultivate future FinTech leaders.' Stephen Anderson, Strategy Leader at PwC Middle East, said, 'This report illuminates the dynamic FinTech landscape within Dubai. We see a region transformed by innovation, driven by technology and visionary strategies,' he was quoted as saying. The report also highlighted the impact of artificial intelligence in transforming every layer of financial services from personalization to compliance and risk modeling. In 2024, Dubai's venture-capital-backed FDI soared 39 per cent in 2024, attracting $222 million that flowed into startups based in Dubai – underscoring the city's growing appeal among global venture firms. Dubai was also recently ranked in the top five cities for fintech in the latest edition of Global Financial Centre Index (GFCI) rankings, with success being attributed to the contributions of the Dubai International Financial Centre (DIFC) over the past 20 years.
Mid East Info
20-05-2025
- Business
- Mid East Info
DIFC and IPEM join forces to advance the global private markets ecosystem in Dubai - Middle East Business News and Information
Dubai, UAE;May 2025: Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, continues to solidify its role as a global hub for long-term capital deployment by signing an agreement at the Dubai FinTech Summit with the International Private Equity Market (IPEM), the premier relationship broker for private equity. IPEM events are the definitive meeting place for decision-makers, innovators, and investors shaping the future of private markets. Dubai will complement the current bi-annual IPEM gatherings held in France. IPEM Future will strive to create an immersive experience that allows attendees to gain insights, develop relationships, and engage with the wider private equity community. The IPEM partnership reinforces DIFC's position as a world-class ecosystem and platform for private equity markets. Ranked number one in the region in the latest edition of the Global Financial Centre Index (GFCI) rankings, Dubai is categorised by the GFCI as only one of eight cities in the world to be a global leader with 'broad and deep' capabilities across all parts of the finance industry, alongside cities including London, New York and Paris. Arif Amiri, Chief Executive Officer, DIFC Authority, commented: 'The current global economic environment has amplified investor appetite for private capital, often viewed as resilient, long-term, and less susceptible to short-term market risks. The partnership with IPEM spotlights Dubai and DIFC as a global destination for long-term capital deployment and aligns with our vision to drive the future of finance and position Dubai among the world's leading global financial centres in the world.' Antoine Colson, CEO, IPEM, said: 'Dubai is a global hub for creative and transformative capital — a natural home for 'IPEM Future'. This new event brings together the boldest LPs and GPs backing breakthroughs in AI, climate tech, longevity, space, and more. It is where private capital does not just perform – it transforms.' Ahead of its Dubai event in December, IPEM brought representatives from the global private capital industry to Dubai FinTech Summit for an introductory visit and participation in an especially curated event. Investors and companies that support the private markets ecosystem discussed using private markets to create long-term value; the role of innovation and technology; the changing investor landscape; and the growing importance of the Middle East. About IPEM – International Private Equity Market: IPEM serves to connect global private capital industry leaders, investors, advisors, and service providers. Our international events are held annually in Paris – IPEM Global, the premier summit for global private capital leaders with 6,000+ participants from around the world; in Cannes – IPEM Wealth, focused on the wealth revolution and welcoming nearly 4,000 participants; and, starting in 2025, in Dubai with the launch of IPEM Future — exclusive access to UAE investment leaders shaping tomorrow's capital landscape. Additionally, IPEM hosts regional events in partnership with local stakeholders in Chicago, Abu Dhabi, and China, while actively exploring opportunities in Latin America, Japan, and more — a reflection of the industry's exciting global expansion and democratization. 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 77 countries with an approximate population of 3.7bn and an estimated GDP of USD 10.5trn. With a 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 46,000 professionals working across over 6,900 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 AI, 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.
Gulf Today
23-03-2025
- Business
- Gulf Today
Dubai's emergence as a top five global FinTech destination
Dubai's progress as one of the world's leading global financial centres has been recognised in the latest edition the Global Financial Centre Index rankings with success being attributed to DIFC's achievements over the last 20 years. Published by Z/Yen in London, the most credible index for the financial services industry rates 119 financial centres across the world combining assessments from financial professionals with quantitative data which form instrumental factors. 31,314 financial centre assessments were collected from 4,946 financial services professionals who responded to the GFCI online questionnaire. The GFCI is updated regularly, and ratings change as assessments and instrumental factors change. Essa Kazim, Governor of DIFC commented: 'With Dubai being one of only eight cities worldwide to be recognised a global leader in the financial industry, we are proud to be shaping the future of global finance and contributing to the Dubai Economic Agenda. Dubai's emergence as a top five global FinTech hub for the first time is a testament to our continuous commitment to innovation and excellence, driven by the forward-thinking initiatives of DIFC. With Dubai becoming the most mentioned financial city in terms of expected to become more significant in the years to come, we reaffirm our position as the region's leading global financial centre.' Arif Amiri, Chief Executive Officer of DIFC Authority commented: 'Dubai's continued rise in the Global Financial Centres Index reflects DIFC's unwavering commitment to further develop the region's number one financial ecosystem. As the only financial city in the region to rank in the top 15 for global competitiveness across multiple categories, our leadership is evident. Moreover, Dubai's recognition as a top performer in key sectors underscores the breadth and depth of our financial capabilities. These achievements demonstrate our strategic focus on innovation, legal and regulatory excellence, and the development of a talented workforce, ensuring that Dubai remains at the forefront of global finance.' 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 77 countries with an approximate population of 3.7bn and an estimated GDP of USD 10.5trn. With a 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 46,000 professionals working across over 6,900 active registered companies – making up the largest and most diverse pool of industry talent in the region.
Gulf Insider
23-03-2025
- Business
- Gulf Insider
Dubai Rated As A Top 5 FinTech City And Climbs Financial Centre Rankings
Dubai has climbed up rankings of the world's most powerful financial centres in the world and has been ranked as a top five FinTech city in a global report. Dubai's progress as one of the world's leading global financial centres was recognised in the latest edition the Global Financial Centre Index rankings with success being attributed to DIFC's achievements over the past 20 years. Published by Z/Yen in London, the most credible index for the financial services industry rates 119 financial centres across the world combining assessments from financial professionals with quantitative data which form instrumental factors. 31,314 financial centre assessments were collected from 4,946 financial services professionals who responded to the GFCI online questionnaire. The GFCI is updated regularly, and ratings change as assessments and instrumental factors change. Headlines for Dubai, include: Becoming a top five city globally for FinTech for the first time, driven by DIFC initiatives Being categorised as only one of eight cities in the world to be a global leader with 'broad and deep' capabilities across all parts of the finance industry, alongside cities including London, New York and Paris An overall ranking advancing to 12th (regional comparison below) Becoming number one (most mentioned) financial city expected to become more significant Being the only financial city in the region that appears in the top 15 categories for being globally competitive: ninth – infrastructure, 10th – business environment, 11th – reputation (includes laws, regs and innovation), and 12th – human capital Being the only financial city in the region that now appears in any of the top fifteen cities list for each of the following sectors: fifth – FinTech, sixth – Professional Services, eighth – Investment Management, 13th – Trading and 14th – Banking/Finance Essa Kazim, Governor of DIFC said: 'With Dubai being one of only eight cities worldwide to be recognised a global leader in the financial industry, we are proud to be shaping the future of global finance and contributing to the Dubai Economic Agenda. 'Dubai's emergence as a top five global FinTech hub for the first time is a testament to our continuous commitment to innovation and excellence, driven by the forward-thinking initiatives of DIFC. 'With Dubai becoming the most mentioned financial city in terms of expected to become more significant in the years to come, we reaffirm our position as the region's leading global financial centre.' Arif Amiri, CEO of DIFC Authority said: 'Dubai's continued rise in the Global Financial Centres Index reflects DIFC's unwavering commitment to further develop the region's number one financial ecosystem. 'As the only financial city in the region to rank in the top 15 for global competitiveness across multiple categories, our leadership is evident. 'Moreover, Dubai's recognition as a top performer in key sectors underscores the breadth and depth of our financial capabilities. 'These achievements demonstrate our strategic focus on innovation, legal and regulatory excellence, and the development of a talented workforce, ensuring that Dubai remains at the forefront of global finance.' New York London Hong Kong Singapore San Francisco Chicago Los Angeles Shanghai Shenzhen Seoul Frankfurt Dubai Washington DC Dublin Geneva Luxembourg Paris Amsterdam Boston Beijing
