Dubai: Dubai has been ranked among the world's top four cities for FinTech in the latest Global Financial Centres Index (GFCI), released today. This prestigious recognition highlights the success of Dubai International Financial Centre (DIFC) in consolidating the emirate's status as the leading global financial centre in the Middle East, Africa, and South Asia.
According to Emirates News Agency, H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, emphasized Dubai's rise as one of the world's pre-eminent FinTech hubs. He credited this achievement 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 place the city at the forefront of global financial centres and shape the future of various sectors.
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, making it the largest cluster of its kind in the region. These firms have collectively raised over US$4.2 billion in investment, reinforcing DIFC's role as the most active ecosystem for growth-stage technology firms and entrepreneurs in the region.
Further underlining its global influence, Dubai advanced to 11th position globally in the overall GFCI rankings. This advancement reaffirms the global finance industry's trust in the city and demonstrates how DIFC initiatives are accelerating the Dubai Economic Agenda D33's goal to become a top four global financial centre.
Essa Kazim, Governor of DIFC, stated that Dubai's vision, guided by the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, has always been to shape the future of finance. The Global Financial Centres Index recognition reaffirms the emirate's position as a global force in FinTech and the broader financial services sector.
Arif Amiri, Chief Executive Officer of DIFC Authority, noted that Dubai's status as one of the world's four most influential FinTech hubs results from DIFC's focus on innovation, talent, and technology. He expressed pride in DIFC's role as a platform for ambitious entrepreneurs, established institutions, and forward-thinking investors to collaborate and thrive.
The Global Financial Centres Index also identifies Dubai as the region's only financial centre to be a global leader with broad and deep capabilities. Additionally, the findings rank Dubai as number one in the world among financial centres expected to become more significant.