Tell Me A Bit About Yourself, DIFC and Its Role In the Finance Sector In the MENA Region
Dubai International Financial Centre (DIFC) is the leading financial hub for the Middle East, Africa and South Asia, with more than 20 years of demonstrable success in facilitating trade and investment flows across the region. At DIFC, we are firmly focused on our vision to drive the future of finance, with a continuous commitment to innovation and excellence.
DIFC plays a pivotal role in connecting regional economies to international capital markets, accelerating growth across diverse financial services. Through its strategic initiatives and conducive ecosystem, DIFC continues to strengthen the MENA region’s finance sector.
As CEO of DIFC Innovation Hub, I am a strong advocate for innovation within the DIFC start-up ecosystem and am passionate about fostering the growth of FinTech and emerging technologies in Dubai. Before joining DIFC, I worked with renowned financial institutions such as Barclays, Standard Chartered, and Lloyd’s TSB for more than a decade.
In addition to my overall leadership responsibilities, I lead initiatives such as the Dubai AI Campus, Dubai FinTech Summit, Dubai AI Festival, and Dubai AI Academy.
What Is the Purpose Behind the DIFC’s Innovation Hub?
DIFC Innovation Hub was established by DIFC to support the Centre’s vision of driving the future of finance and to position Dubai as a global centre for technology and innovation. Home to more than 1,300 AI, FinTech and Innovation firms, DIFC Innovation Hub provides a dynamic ecosystem that supports start-ups, scale-ups, and industry leaders through bespoke programmes, innovation initiatives and collaborative workspaces.
By facilitating meaningful connections and offering state-of-the-art infrastructure, we are driving growth and shaping the future of innovation in the region, while catalysing transformative ideas and groundbreaking solutions. Our vision is to generate new economic value by fostering innovation, enterprise, and talent across sectors, ensuring that the region remains at the forefront of global innovation.
What Is DIFC’s Role In Facilitating the Growth and Success of FinTech Companies In the Region?
DIFC offers one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovation accelerator programmes, and funding for growth-stage start-ups. This gives FinTech or innovation-focused start-ups and scale-ups access to top-tier financial institutions to unlock growth opportunities within the region.
In addition, we host the Dubai FinTech Summit, one of the biggest annual gatherings of FinTech industry leaders to explore the future of finance, innovation and address challenges and opportunities in the sector. This approach, driven by DIFC initiatives, has seen Dubai emerge as a top five FinTech hub globally for the first time in the Global Financial Centre Index rankings.
What Part Do You Play As the CEO of the DIFC’s Innovation Hub in the Organisation’s Broader Goals?
In my current role, my focus is on deepening DIFC’s FinTech and innovation ecosystem and contributing to its continued growth. This directly supports the Strategy 2030 vision of developing DIFC as one of the world’s leading financial centres, positioning it at the forefront of future-focused financial services. Driven by strategic DIFC initiatives and through impactful collaborations, I play a vital role in attracting, nurturing, and scaling innovative ventures to reshape the MENA’s financial landscape.
Why Do You Think FinTech and Other Emerging Technologies Have Become So Successful In Dubai In Recent Years?
Dubai has rapidly emerged as a global nexus for FinTech and AI innovation, attracting a diverse array of unicorns, scale-ups, and start-ups.
The Emirate’s favourable tax environment, progressive business-centric policies, and stable geopolitical and economic climate all offer compelling motivation for FinTech or innovation-focused start-ups and scale-ups. This robust foundation is reflected in the latest Global Financial Centre Index rankings, where Dubai is among the top five cities globally for FinTech, driven by DIFC initiatives. Dubai is also categorised as one of only eight cities in the world to be a global leader with ‘broad and deep’ capabilities across all parts of the finance industry, alongside cities like London, New York and Paris.
FinTech is currently among the fastest-growing sectors in DIFC with more than USD 4bn of regional investment, strengthening the Centre’s position as the largest ecosystem for artificial intelligence (AI), FinTech and Innovation in the region. DIFC also builds partnerships with FinTech ecosystems around the world. This provides an opportunity to share knowledge, offer training and encourage migration of FinTech firms and talent across the world.
What Role Has the DIFC Played In Attracting VCs and Startups To the MENA Region?
FinTech firms, startups and scaleups are often attracted to DIFC and DIFC Innovation Hub because of our comprehensive offering and proven track record as the leading financial centre in the MEASA region. Additionally, we offer a conducive and vibrant environment, the region’s most proven English common law framework, and a tax-efficient environment.
We also provide access to education, incubators and accelerators, mentorship from the industry, cost-effective operating licences, access to funding and scaling through venture studios.
DIFC also curates Ignyte, a dynamic digital platform designed to empower the next generation of start-ups and entrepreneurs on their journey toward global growth by connecting over 100,000 entities. Ignyte’s ambitious goals include attracting 5,000 VCs and investors, 5,000 vetted mentors and experts, over 500 corporate and government partners, and 5,000 exclusive perks. Simultaneously, Dubai and DIFC continue to attract top-tier talent from all over the world, particularly in the AI, FinTech and Innovation spheres.
The Centre’s role as a co-anchor of the AED 1 billion Dubai Future District Fund, which invests in Dubai’s venture capital industry, provides crucial financial backing to promising ventures.
What Do You Think Is Most Exciting About the Future of FinTech In the MENA Region?
What I find most exciting about the future of FinTech is the AI-FinTech convergence, which is expected to catalyse the next wave of transformative growth in financial services. AI is already revolutionising the delivery and usage of FinTech in daily life, and the market value for AI in FinTech is projected to exceed USD 50 billion by 2029, indicating its growing impact on the industry.
Through DIFC, Dubai has solidified its position as a global powerhouse for FinTech and AI innovation. The UAE Strategy for AI aims for the country to be a global leader in AI investments by 2031, contributing significantly to the economy and cementing its role as a leading adopter of AI in the financial sector. This progressive momentum, coupled with initiatives like the Dubai AI Campus and the DIFC Innovation Hub, provides a secure infrastructure, creating an unparalleled environment to develop next-generation technologies and attract top-tier talent, FinTechs, and innovation companies.
