Maktoum bin Mohammed inaugurates the second edition of the Dubai FinTech Summit
– His Highness: “A pioneering role for Dubai in leading the financial technology system and anticipating the future of the global financial sector.”
– “Artificial intelligence and innovative technology are reshaping the features of the financial sector… and it is our responsibility to explore the positive effects of these technologies.”
DUBAI, 6 MAY / WAM / His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and President of the Dubai International Financial Center, opened today the second edition of the Dubai FinTech Summit, organized by the centre, In Madinat Jumeirah, it continues over two days with the participation of more than 8,000 speakers and participants from more than 100 countries, an elite of decision-makers, thought leaders and specialists, in addition to more than 200 international exhibitors.
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum said: “Dubai today has the ideal infrastructure and legislation to lead the financial technology sector system and be a global center for it, and an ideal platform that allows financial technology companies to benefit from new growth opportunities in this growing sector, which is in line with the goals of the Dubai Agenda.” Economic “D33” aims to strengthen the emirate’s position to be among the four most important financial centers in the world, thus consolidating its position as a leading destination for traditional financial institutions and financial technology companies that are looking to expand and grow in an ideal environment that fosters growth, prosperity, innovation and excellence.
His Highness added, “The Dubai FinTech Summit, in its second edition, highlights the ongoing transformation in the financial sector led by technology, and the urgent need to focus on financial innovation and consolidate the impact of sustainability as a way of life. Through cooperation and partnership between banks on the one hand, financial technology companies and financial services application platforms on the other hand.” In addition, Dubai plays a prominent role and a prominent position that allows it to lead the future of this sector, which is characterized by dynamism and vitality, and to design financial and banking services that are customer- and investor-centered, allowing it to move forward with broad leaps into the future.”
His Highness said, “Today we speak from the future, where artificial intelligence, digital currencies, and innovative technology are reshaping the features of the financial sector. It is our responsibility to explore the positive effects and opportunities inherent in the uses of artificial intelligence in financial services, and the world of digital currencies and the growing blockchain technology. There are no limits to what can be accomplished.” This is the point to achieve global economic and financial leadership.”
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum attended the opening session of the Dubai summit. His Excellency Issa Kazim, Governor of the Dubai International Financial Center, began the summit with an opening speech, in which he pointed out that the center has become a major engine for the growth of Dubai’s economy and a major contributor to the emirate’s gross domestic product, pointing out that its rapid growth rate is ideally in line with the goals of the Dubai Economic Agenda.” D33″ to double the size of the emirate’s economy over the next decade and strengthen its position as one of the three best economic cities in the world by 2033 in the field of competitiveness in the business and investment sectors.
He added that the unprecedented growth achieved by the Dubai International Financial Center over the past twenty years confirms Dubai’s position as the most prominent regional contributor within the global financial services sector.
His Excellency Issa Kazim added, “Through our strategic initiatives, we seek to provide a dynamic environment for innovation and the empowerment and prosperity of projects. Dubai has invested heavily in providing an ideal system for financial technology by establishing a supportive and flexible regulatory framework that allows emerging and existing companies to access financing, experimental environments, and resources.” He stressed that the summit constitutes an opportunity for cooperation between traditional financial institutions and financial technology companies, especially in light of the rapid developments taking place within the artificial intelligence sector, which constitutes a fundamental engine for growth and enhances the leadership of innovation efforts.
The Dubai FinTech Summit will give startups, investors and industry leaders a platform to connect and benefit from the growing financial technology market in the region and beyond, with startups thriving and investment capital increasing in the financial technology sector in the region, as the Middle East and North Africa region is home to more than 800 companies. A startup in the field worth $15.5 billion, according to data from Dell Rome.co.
For his part, Arif Amiri, CEO of the Dubai International Financial Centre, said that the center provides a thriving business environment that combines technology with access to a huge amount of opportunities, which enables financial technology companies to achieve greater success and expansion on a global scale, and that it sets new standards for financial excellence. Within the framework of a clearly defined strategy, by strengthening cooperation frameworks and activating purposeful partnerships.
He added, “The Dubai FinTech Summit embodies our continued commitment to creating tangible positive change that is reflected in the sector’s performance, given its distinction in hosting an exceptional number of sector leaders and global decision makers to discuss and shape the future of the financial sector. This pioneering platform highlights Dubai’s pivotal role in the financial system.” “and consolidates its position as a stimulating force for economic growth and technological development in the world.”
Investments in financial technology are expected to grow at a compound annual rate of 17.2%, reaching US$949 billion in the period from 2022 to 2030, which will accelerate the pace of innovation in the field of financial technology globally and in Dubai, and provide access to emerging markets. High growth in the Middle East, Western Europe, Asia and Africa.
The second edition of the Dubai FinTech Summit received unprecedented attention due to its unique ability to anticipate the future of the financial technology sector by addressing the most important future trends. It is also a platform for effective communication between participants to discuss the most prominent topics and propose the best solutions.
The Dubai FinTech Summit allows for meaningful global discussions and dialogues, accompanied by side discussion sessions. Participants will be able to benefit from rich intellectual ideas and trends on issues and topics related to financial technology within key themes and high-level discussion panels, with the participation of His Excellency Abdullah bin Touq Al Marri, Minister of Economy, His Excellency Hilal Saeed Al Marri, Director General of the Department of Economy and Tourism in Dubai, and His Excellency Fahd. Mohammed Al Turki, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, and His Excellency Faisal Belhoul, Vice Chairman of the Board of Directors of Dubai Chambers and Chairman of the Board of Directors of J&F Holding Company.
Speakers include Adena Friedman, Chairman and CEO of Nasdaq Stock Market; Nick Dreckman, CEO of Julius Baer Bank; Yi-Hsien Hong, President and CEO of State Street Global Advisors, along with many global industry leaders. , who will contribute their thoughts and perspectives on the most important issues critical to the future of FinTech.
The first day of the summit witnessed key dialogue and interactive sessions on legal regulatory frameworks, policy-making mechanisms, crypto payments, integrated and open finance, artificial intelligence, the future of the financial sector, risk capital and entrepreneurship prospects, corporate finance, financial inclusion and consumer protection, and other important topics. .
The second day of the summit is scheduled to witness similar lively dialogues, starting with an opening speech by Arif Amiri, CEO of the Dubai International Financial Centre, followed by high-level discussions with global industry leaders, including discussion sessions centered around several topics, the most important of which are, “High interest rates and economic fluctuations.” Macro, Institutional Adoption and Regulatory Clarity – Cryptocurrency Path Forward”, “D33 – A Decade of Economic Transformation” and other important themes.
It is noteworthy that the second edition of the Dubai FinTech Summit witnessed the support of more than 150 international partner institutions, and “Visa” joined the summit as a founding partner and co-host, Emirates NBD Bank, as a founding partner and main partner for banking services, and “E&” Company as a co-host. Founding partner and supporting sponsor, and Commercial Bank of Dubai, as founding partner and strategic partner for banking services.
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