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Dubai FinTech Summit Returns for Second Edition Amid Surging Global FinTech Funding

Second edition of Dubai FinTech Summit to take place May 6 - 7 at Madinat Jumeirah

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Staff Writer, TLR

Published on April 29, 2024, 09:53:19

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Dubai takes centre stage once again as it prepares to host the second edition of the Dubai FinTech Summit on May 6-7 at Madinat Jumeirah.

Under the esteemed patronage of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, and President of DIFC, the summit promises to be a dynamic gathering of industry leaders, innovators and investors.

Organised by the Dubai International Financial Centre (DIFC), the leading global financial hub in the Middle East, Africa and South Asia (MEASA) region, the summit aims to convene 8,000 decision-makers, over 300 thought leaders and more than 200 exhibitors.

Together, they will delve into the latest innovations, challenges, and cutting-edge technologies shaping the FinTech landscape. The global FinTech sector is experiencing exponential growth, projected to reach a valuation of $608 billion by 2029, as stated by Mordor Intelligence.

In contrast, the MENA FinTech market is defying global trends, expected to register a Compound Annual Growth Rate (CAGR) of over eight per cent from 2024 to 2029.

The Dubai FinTech Summit offers a pivotal platform for startups, investors and industry leaders to tap into the burgeoning FinTech market both regionally and globally. With over 800 FinTech startups worth $15.5 billion in the MENA region, according to data from dealroom. co, the potential for growth and collaboration is substantial.

Reflecting the ongoing transformation in the financial sector driven by innovation, inclusion and impact, the key themes of this year's summit will include ‘Finance Renaissance, Ecofinance and Impact, Investment Vanguard, Regulatory Frameworks, Global Financial Dynamics and FinTech 2.0’.
Mohammad Alblooshi, CEO at DIFC Innovation Hub, emphasised the importance of gathering stakeholders to address the challenges and opportunities ahead. He stated: "Nearly 60 per cent of all FinTech companies in the GCC are currently based in Dubai.

With the industry growing at an unprecedented rate, it is crucial for stakeholders to gather and discuss the challenges and opportunities that lie ahead."

The Dubai FinTech Summit boasts an impressive lineup of distinguished local and international speakers, who will engage in panel discussions and fireside chats. Notable attendees include Abdullah bin Touq Al Marri, Cabinet Member and UAE Minister of Economy; Adena T. Friedman, Chair & CEO of Nasdaq Inc; and many other esteemed industry leaders.

A key highlight of the Dubai FinTech Summit will be the Grand Finale of the FinTech World Cup (FWC), where winners stand to secure investments of up to $1 million. This competition, initiated by DFS, aims to foster cross-border collaboration and innovation, crucial for propelling the global FinTech sector forward.

Aligned with the D33 Agenda to position Dubai as the top four global financial hub by 2033, the second edition of the Dubai FinTech Summit is poised to encourage cross-border collaboration and innovation, driving progress in the MEASA region.

The inaugural Dubai FinTech Summit drew over 5,000 C-suite leaders from over 90 countries, including north of 1,000 investors and more than 150 speakers.

The event also saw the signing of over 20 memorandum of understandings with global financial leaders, reflecting its significant impact and influence within the industry.

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