Abu Dhabi: SiltaNews – News Desk
Dubai has been ranked among the top four global cities for financial technology (FinTech) according to the latest edition of the Global Financial Centres Index (GFCI). This significant economic achievement adds to the emirate’s track record and reflects the success of the Dubai International Financial Centre (DIFC) in consolidating its position as a leading global financial center in the Middle East, Africa, and South Asia (MEASA) region.
The ranking is based on assessments by thousands of experts in the financial services and technology sectors around the world, as well as numerous economic criteria and indicators related to these sectors, confirming Dubai’s reputation as a leading and advanced global hub for innovation and financial technology.
On this occasion, His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and President of the Dubai International Financial Centre (DIFC), affirmed that Dubai’s continued consolidation of its position among the world’s leading financial technology hubs is a result of the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and his directives to position Dubai at the forefront of leading cities that positively contribute to shaping the future of the global financial sector.
His Highness commended the pivotal role played by the DIFC and the efforts of its team to continue affirming Dubai’s leading position on the global financial services map. His Highness said, “We appreciate the role of the DIFC in achieving this accomplishment, as it supports the objectives of the Dubai Economic Agenda (D33). This advanced ranking reflects the international confidence and appreciation that Dubai enjoys as a city capable of providing a model environment and world-class infrastructure that supports the growth of its partners across various sectors, especially the financial sector.”
Coinciding with the announcement of this advanced ranking in the Global Financial Centres Index, the Dubai International Financial Centre (DIFC) revealed that the number of AI, fintech, and innovation companies operating within the DIFC and its Innovation Hub has now exceeded 1,500, making it the largest cluster of such companies in the region. These companies have raised more than $4.2 billion in investment, strengthening DIFC’s position as the region’s premier ecosystem for entrepreneurs and technology startups.
Dubai also moved up to 11th globally in the GFCI overall ranking, underscoring its growing influence on the international stage and reflecting the confidence of the global financial sector. Furthermore, this achievement is a testament to the effectiveness of DIFC’s initiatives in supporting the objectives of the Dubai Economic Agenda (D33), which aims to position Dubai among the top four global financial centers.
His Excellency Essa Kazim, Governor of the Dubai International Financial Centre (DIFC), said: “Dubai, under the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has always sought to shape the future of the financial sector. Today’s ranking in the Global Financial Centres Index underscores the emirate’s prominent position as a leading global force in fintech and the financial services sector in general. Through the DIFC, we are working to enable innovation and create new opportunities for growth, ensuring Dubai’s continued leadership in shaping the future of the global economy.”
His Excellency Arif Amiri, Chief Executive Officer of the Dubai International Financial Centre Authority, said, “Dubai has become one of the four most influential global hubs for the fintech sector, thanks to our continued focus on innovation, attracting top talent, and developing technology. At the DIFC, we pride ourselves on our role in enabling ambitious entrepreneurs, large corporations, and visionary investors to collaborate and thrive together.
This achievement reflects the global financial community’s recognition of Dubai and its pioneering role in accelerating growth, which motivates us to continue affirming DIFC’s contribution to consolidating Dubai’s role in leading the future of the global financial sector.”
The Global Financial Centres Index ranks Dubai as the only financial center in the region with a global standing and capabilities that are both broad and deep. The results also reveal that Dubai is ranked first globally in terms of its expected importance on the international financial.