Dubai International Financial Centre (DIFC) recently announced that it saw more than 100 fintech companies registered in the centre — making it the leading financial centre in the region.
The number of registered fintech companies in the DIFC show a three-fold growth from 2018 end into 2019. Leading international and regional fintech companies have picked the centre as their preferred jurisdiction in the region, the media said.
Arif Amiri, chief executive officer of DIFC Authority, told the media that, “It is a reflection of our commitment to reinforcing Dubai’s position as one of the world’s top ten fintech hubs. We aim to continue this momentum and growth through our evolving regulatory environment and the quality of collaborators we bring into the DIFC, as our vision of driving the future of finance becomes a reality.”
Fintech companies registered in the DIFC are from across sectors and geographical markets. The centre comprises the largest financial technology ecosystem in the region. In the last six months, 80 to 200 fintech companies have more than doubled in size.
Last month, the DIFC introduced the new Employment Law to create an attractive business environment to the centre’s robust workforce. The law is aimed at establishing a balance in interests between both employers and employees.
DIFC has been recognised as the seventh best fintech location globally. It is the only financial centre in the Middle East, Africa and Southeast Asia be in the top 10 fintech Locations of the Future 2019/20 for Economic Potential index.
With that, Dubai firms up its position as a leading fintech capital, the media said. The centre has closely engaged with the venture capital ecosystem to increase access to funding.