Dubai has been ranked among the world’s top four cities for FinTech in the latest Global Financial Centres Index (GFCI).
The recognition reflects the success of DIFC in consolidating the emirate’s status as the leading global financial centre in the Middle East, Africa and South Asia.
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, said: “Dubai’s rise as one of the world’s pre-eminent FinTech hubs is a testament to the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to not only place Dubai at the forefront of the world’s leading cities, but also to shape the future of diverse sectors.
FinTech business in Dubai
“Our progress in the latest Global Financial Centres Index has been driven by the goal of the Dubai Economic Agenda D33 to make the city one of the world’s top four global financial hubs.
“This achievement also reflects the trust the international financial community has in Dubai’s ability to provide an optimal environment and infrastructure for growth, driven by DIFC’s transformative initiatives.
“With our clear aspirations for the future, we continue to strengthen Dubai’s role as a force for innovation and a platform for opportunity, advancing progress that will serve our nation, the region and the world.”
Coinciding with the announcement, DIFC revealed that the number of AI, FinTech and innovation companies in the Centre and its Innovation Hub has now exceeded 1,500.
Collectively, these pioneering firms have raised a total of more than $4.2bn in investment, reinforcing DIFC’s role as the region’s most active ecosystem for growth-stage technology firms and entrepreneurs.
The city also advanced to 11th place globally in the overall GFCI rankings, reaffirming the trust of the international finance industry in the city.
The result underscores how DIFC initiatives are helping accelerate the goals of the Economic Agenda D33 to position the city among the world’s top four global financial centres.
Essa Kazim, Governor of DIFC, said: “Dubai’s vision, guided by the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has always been to shape the future of finance.
“Today’s recognition in the Global Financial Centres Index reaffirms the emirate’s position as a global force in FinTech and the wider financial services sector. Through DIFC, we are enabling innovation, creating opportunities for growth, and ensuring Dubai continues to play a leading role in defining the future of the global economy.”
Arif Amiri, Chief Executive Officer of DIFC Authority, said: “Dubai has become one of the world’s four most influential FinTech hubs because of DIFC’s unwavering focus on innovation, talent, and technology.
“At DIFC, we are proud to be the platform that enables the most ambitious entrepreneurs, established institutions, and forward-thinking investors to collaborate and thrive.
“This achievement demonstrates the confidence the global financial community has in Dubai’s role as a catalyst for growth, and it motivates us to continue driving the future of finance from here in DIFC.”
The GFCI report also identified the city as the only financial centre in the region recognised as a global leader with both broad and deep capabilities.
Additionally, the UAE city ranked first worldwide among financial centres expected to become more significant in the future.
