Dubai’s emergence as a top five global FinTech destination

Dubai’s progress as one of the world’s leading global financial centres has been recognised in the latest edition the Global Financial Centre Index rankings with success being attributed to DIFC’s achievements over the last 20 years.

Published by Z/Yen in London, the most credible index for the financial services industry rates 119 financial centres across the world combining assessments from financial professionals with quantitative data which form instrumental factors.

31,314 financial centre assessments were collected from 4,946 financial services professionals who responded to the GFCI online questionnaire. The GFCI is updated regularly, and ratings change as assessments and instrumental factors change.

 Essa Kazim, Governor of DIFC commented: “With Dubai being one of only eight cities worldwide to be recognised a global leader in the financial industry, we are proud to be shaping the future of global finance and contributing to the Dubai Economic Agenda. Dubai’s emergence as a top five global FinTech hub for the first time is a testament to our continuous commitment to innovation and excellence, driven by the forward-thinking initiatives of DIFC.

With Dubai becoming the most mentioned financial city in terms of expected to become more significant in the years to come, we reaffirm our position as the region’s leading global financial centre.”

 Arif Amiri, Chief Executive Officer of DIFC Authority commented: “Dubai’s continued rise in the Global Financial Centres Index reflects DIFC’s unwavering commitment to further develop the region’s number one financial ecosystem. As the only financial city in the region to rank in the top 15 for global competitiveness across multiple categories, our leadership is evident. Moreover, Dubai’s recognition as a top performer in key sectors underscores the breadth and depth of our financial capabilities. These achievements demonstrate our strategic focus on innovation, legal and regulatory excellence, and the development of a talented workforce, ensuring that Dubai remains at the forefront of global finance.”

Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading financial hub for the Middle East, Africa, and South Asia (MEASA), which comprises 77 countries with an approximate population of 3.7bn and an estimated GDP of USD 10.5trn.

With a 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe, and the Americas through Dubai.

DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of 46,000 professionals working across over 6,900 active registered companies – making up the largest and most diverse pool of industry talent in the region.