• Home
  • News
    • People moves
    • Africa
    • Asia
    • Australia
    • Canada
    • Caribbean
    • Domicile
    • Europe
    • Latin America
    • North America
    • Middle East
    • US
    • US
    • UK
  • Products
    • Funds
    • Pensions
    • Platforms
    • Insurance
    • Investments
    • Private Banking
    • Citizenship
    • Taxation
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Directory
  • Video
  • Advertise with us
  • Directory
  • Events
  • European Fund Selector
  • Newsletters
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
  • Advertise with us
  • Directory
  • Events
    • Upcoming events
      event logo
      International Investment Nordic Forum 2021

      International Investment is delighted to announce the 2021 International Investment Nordic Forum which will take place on Tuesday March 9, at 9am (GMT). This curated virtual event will be broadcast live and will feature a series of fund manager interviews and presentations, as well as interviews with some of the Nordic regions top fund selectors.

      • Date: 09 Mar 2021
      • ONLINE, ONLINE
      View all events
  • European Fund Selector
International Investment
International Investment

Sponsored by

Sharing Alpha
  • Home
  • News
  • Products
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Video
  • Fintech

Dubai triples fintech investment and launches US$100m fund

Dubai triples fintech investment and launches US$100m fund
  • Gary Robinson
  • 14 November 2017
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  

Dubai’s plans to rival London as one of the world’s largest fintech centres have been boosted with a commitment to triple the amount to invested into financial technology start ups in 2018 and the launch of a new US$100m fintech-focused fund

The Dubai International Financial Centre (DIFC), has today announced the launch of a US$100m fintech-focused fund to accelerate the development of financial technology by investing in start-ups from incubation through to growth stage.

Related articles

  • Financial giants sign up to join new Dubai fintech centre
  • Fintech to account for 8% of Middle East financial services revenue by 2022: report
  • DIFC's global fintech stars of the future start financial services scheme
  • DIFC signs deal to back fintech startups with India

The fund was announced during the inaugural Global Financial Forum (GFF), organised by DIFC, which took place earlier today under the theme “Navigating the New Order” and was attended by over 350 influencers from the financial services industry.

In his welcoming address, Essa Kazim, governor of DIFC, said that the new fund will leverage the DIFC’s fintech ecosystem of experimental licenses, pricing and collaborative spaces.

“There is immense opportunity in this market, and this will be one more step towards shaping the future of finance in the region,” he said.

‘Huge potential’

“There is huge potential in the region we serve and through the DIFC, we look to support the development of emerging markets in MEASA and encourage greater trade flows through the South-South corridor, which stretches from Latin America, through to Africa, India, South East-Asia and China.”

The Forum featured speakers who participated in a sessions, panel discussions covering the three main themes of Globalising Gulf Finance, Emerging Markets, and The Future of Finance.

Sessions featured economists such as Hafez Ghanem, the vice president of the World Bank Middle East and North Africa discussed the increasing attractiveness of Gulf markets amongst international investors as well as the rise of the global Islamic economy and Shariah-based financial technology and Bill Winters, group chief executive of Standard Chartered, who discussed global emerging markets and shared his view on where Standard Chartered is seeing the greatest potential for growth.

FinTech Hive

The FinTech Hive at Dubai International Financial Centre (DIFC) has just concluded its inaugural cycle of Investor Day, with 11 programme start-ups presenting their products to investors and industry experts.

The FinTech Hive at DIFC is bidding to become a global hub for innovation by, as reported, inviting the best new fintech and insurtech propositions form across the globe to pitch for grants and free support within its new technology centre.

During the event, pictured left, the 11 finalists of FinTech Hive, which was developed in partnership with Accenture, had the chance to promote the solutions and ideas they worked on during the 12 week programme to representatives from the accelerator’s financial institution partners and the wider investor community.

Arif Amiri, chief executive Office of DIFC Authority, said : “We are delighted to announce that we are tripling our commitment to FinTech in 2018. In addition to Fintech Hive at DIFC, we will be running two new programmes, with a focus on RegTech and InsurTech, reinforcing our role in shaping the future of financial services for the MEASA region.”

Launched in partnership with Accenture in January 2017, FinTech Hive at DIFC brought together 11 start-ups from around the world who have demonstrated a proof of concept in various FinTech fields, such as artificial intelligence, Big Data and analytics, blockchain, payments, P2P and crowdfunding, and roboadvisors.

Sushil Saluja, senior managing director of Financial Services in Europe, Africa, Middle East and Latin America at Accenture, said, “Around the world, we have witnessed the exponential benefits that technology and innovation can bring to businesses and to society in general. The MEASA region is no exception, having shown tremendous potential, thanks to the ingenuity of our local talent.

‘Unprecedented opportunity’

Maria G. Gotsch, president and CEO, Partnership Fund for New York City, spoke about the increasing relevance of technology to the development of the global financial sector.

“World-class accelerator programmes, like the FinTech Innovation Lab and FinTech Hive at DIFC, are narrowing the gap between innovative start-ups and leading financial institutions, and are in turn shifting the way we see and understand finance,” she said. “Opening the lines of communication provides an unprecedented opportunity to FinTech and financial institutions alike. Their work is revolutionising financial services to make it safer, inspired, efficient and accessible.”

International Investment recently ran a poll of its readers, as reported, that found 83% admitting that their businesses are dependent on technology.

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Fintech
  • Middle East

More on Fintech

Digital switch must accelerate to meet demand: iPensions Group

  • Fintech
  • 15 January 2021
TORA partners with Japanese AM firm Revolution

  • Fintech
  • 14 January 2021
Bahamas passes digital assets legislation for 'compliant industry'

  • Fintech
  • 15 December 2020
Banca Generali buys stake in Conio cryptocurrency services provider

  • Fintech
  • 15 December 2020
DIFC grants Ebury financial services licence in fintech first

  • Fintech
  • 09 December 2020
Back to Top

Most read

SharingAlpha's 2020 top rated funds by category revealed
SharingAlpha's 2020 top rated funds by category revealed
Duff & Phelps opens Gibraltar office
Duff & Phelps opens Gibraltar office
Brexit deals hefty blow to City but industry is ready to fight back
Brexit deals hefty blow to City but industry is ready to fight back
Comment: Are cryptocurrencies the new gold?
Comment: Are cryptocurrencies the new gold?
Tabula launches world's first Paris-aligned fixed-income ETF
Tabula launches world's first Paris-aligned fixed-income ETF
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading