Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East and Africa (MEA) and South Asia region, has signed a MoU with Innovate Finance, an independent membership association that is at the heart of the UK’s FinTech ecosystem.
The latest signing builds on the 10 global agreements that were agreed by DIFC and FinTech Hive in 2018 with FinTech hubs in New York, London, Hong Kong, Kuala Lumpur, Singapore, Mumbai, Paris, Brussels, Holland and Bahrain.
This partnership with Innovate Finance will help keep the UK and Dubai at the forefront of Financial Innovation, remarked Arif Amiri, the chief executive of DIFC Authority after inking the deal with Natalie Ceeney, the chair of Innovate Finance at the UAE Embassy in London.
As per the deal, Innovate Finance and FinTech Hive (at DIFC) will explore concepts that will help startups in both locations, ranging from sharing knowledge, hosting learning initiatives for startups such as financial technology programmes in The Academy at DIFC and foster relationships between their regulatory and financial communities, he stated.
“During the year, FinTech Hive at DIFC will work with Innovate Finance and other global partners to strengthen our FinTech ecosystems for the benefit of start-ups who will be able to maximise the market opportunities in both locations,” he added.
Ceeney said: “Many global financial centres continue to see the UK as an attractive destination, and we are keen to support future collaborations for our members with partners overseas.”
“Dubai is a rising influencer within the financial technology space and we look forward to developing a comprehensive partnership which will enable both large and small FinTechs in our respective hubs to scale,” she added.-TradeArabia News Service