Dubai has been placed in the seventh position globally in the list of top ten fintech locations of the future. The report reflects the economic potential of the country and its effort to support and expedite sustainable economic growth.

Dubai International Finance Centre is the only fintech hub in the MEASA (Middle East Africa South Asia) region to be listed in the top ten positions. The report elaborates the factors that influenced the ranking of the top fintech locations.

Influential factors that decided the ranking included regulatory and legal framework, ease of doing business, representation of leading world banks, and talent pool.

Dubai International Finance Centre was earlier listed in the top ten financial hubs in the world and the new fintech ranking cements Dubai’s global status as a fintech capital.

Arif Amiri, the chief executive officer of Dubai Finance Centre, said, “We welcome the continued recognition of Dubai as an international hub for fintech and innovation.”

He went on to add that the ranking reaffirms Dubai’s position as one of the leading fintech ecosystems in the world and enhances Dubai Finance Centre’s reputation as one of the world’s most advanced finance centres. He added that the ranking also demonstrates a strong promise of the destination for growth.

Dubai International Finance Centre is home to the largest, most developed fintech ecosystem in the MEASA region. DIFC is focusing on innovations in the financial sector which will assist in the economic growth of Dubai and UAE. Dubai finance centre delivered outstanding performances across traditional banking and fintech sector in the recent years.

DIFC is witnessing growing demands from financial institutions across the world, which has prompted it to create new expansion plans that will support the economic growth of the country.