Dubai, United Arab Emirates--(Newsfile Corp. - May 4, 2023) - International banking group Standard Chartered has taken on host sponsorship of the Dubai FinTech Summit to be held in Dubai next week 8-9 May 2023. Organised by Dubai International Financial Centre (DIFC), the summit is primed to be the perfect platform to connect start-ups, investors, and industry leaders.
Under the patronage of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai; Deputy Prime Minister and Minister of Finance of the UAE; and President of DIFC, the summit will convene over 5,000 global FinTech and technology C-suite to discuss innovations and challenges in the sector.
The FinTech and Innovation sector in the Middle East, Africa, and South Asia (MEASA) region is growing at pace with market value forecasted to double in size from USD135.9 billion in 2021 to USD266.9 billion in 2027, according to DIFC FinTech Hive's 2022 FinTech Report. The Dubai FinTech Summit aims to tap into this tremendous growth potential and showcase the region's prowess as the sector advances.
Figure 1: Mohammad Alblooshi, Head of DIFC
Mohammad Alblooshi, Head of DIFC Innovation Hub and FinTech Hive, said:
"The demand for FinTech services has grown significantly in the last few years, powered by digital technologies and innovation across sectors. During 2022 alone, investment in DIFC's FinTech and innovation community exceeded USD615 mn, and the total number of active firms in the sector grew 36 per cent to 686. With the support of our global partners such as Standard Chartered, we are confident the Dubai FinTech Summit, will serve as a vehicle to connect the industry, and help accelerate continued cross-border growth as we fulfil our vision of making Dubai the go-to destination for the FinTech and finance community globally."
Figure 2: Rola Abu Manneh, Chief Executive Officer of Standard Chartered Bank UAE
Rola Abu Manneh, Chief Executive Officer of Standard Chartered Bank UAE, said: "We are pleased to be part of the Dubai FinTech Summit which serves as a dynamic platform that brings together thought leaders from across the industry to share insights, exchange ideas and collaborate to shape the future of the financial industry.
"This partnership is a testament to our long-term commitment to creating a better future for the industry. It also demonstrates the strong synergies between Standard Chartered and the Dubai International Financial Centre, as we leverage our global network and innovation capabilities to support in building a more transparent, efficient, and secure financial sector."
"As the region continues to witness increased digital transformation, especially across the financial sector, we expect the demand for digital financial services and products to continue to rise. This would likely spur a wave of innovation that will not only drive economic growth but also improve financial inclusion across the region," added, Rola Abu Manneh.
At the Dubai FinTech Summit, visitors will be able to meet more than 100 FinTech exhibitors and join a series of panels and fireside chats.
The impressive roster of speakers at the summit includes H.E. Abdullah Bin Touq Al Marri, UAE Minister of Economy, Bill Winters, Group Chief Executive of Standard Chartered PLC; Brad Garlinghouse, CEO of Ripple; Piyush Gupta, CEO of DBS Bank Singapore; Jenny Johnson, President and CEO of Franklin Templeton and Brian Armstrong, CEO and Co-Founder of Coinbase, among others.
Visitors can now purchase tickets for the Dubai FinTech Summit.
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 over 36,000 professionals working across over 4,300 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.
About Standard Chartered Bank
We are a leading international banking group, with a presence in 59 of the world's most dynamic markets and serving clients in a further 64. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.
