News

Dubai FinTech Summit to convene with more than 5,000 experts

Published

2 years ago

March 1, 2023

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Dubai continues to solidify its reputation as a global hub for FinTech and Innovation ahead of the Dubai FinTech Summit taking place on 8 and 9 May this year under the patronage of Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai; Deputy Prime Minister and Minister of Finance of the UAE; and President of the Dubai International Financial Centre.

Last year, investment in DIFC’s FinTech and innovation community exceeded $615 million and the total number
of active firms in the sector grew 36 per cent to 686.

The Fintech and Innovation sector in the Middle East, Africa and South Asia (MEASA) region is growing at pace with a market value forecasted to double in size from $135.9 billion in 2021 to $266.9bn in 2027 according to DIFC FinTech Hive’s 2022 FinTech Report.

The Dubai FinTech Summit will provide the perfect environment for connecting start-ups, investors and industry leaders tapping into this opportunity as they advance in the region and beyond.

Organised by DIFC, the leading international financial hub in the (MEASA) region, the Summit will bring together 5,000 global FinTech and technology experts to discuss innovations and challenges in the sector, as well as spotlight all things impacting the future of finance – from Web 3.0, Metaverse and Blockchain to decentralised finance,
regulation and policymaking, and the greater need for increased financial inclusivity.

In conversation with @FJeasy, Founder & CEO, Baraka at DFS Dialogues.

Catch the full conversation on our youtube channel – https://t.co/tP9Q7kz4Vy #DubaiFinTechSummit #DIFC #Trescon pic.twitter.com/4Sitsfeais

— Dubai FinTech Summit (@DubaiFinTechSum) December 21, 2022

Visitors will also be able to meet more than 100 FinTech exhibitors and join a series of panels and fireside chats. The Dubai FinTech Summit will take place at Madinat Jumeirah in Dubai.

The event will host esteemed local voices such as Abdullah Bin Touq Al Marri, UAE Minister of Economy and Essa Kazim, Governor of DIFC. The impressive roster of speakers at the summit include Bill Winters, Group CEO of Standard Chartered; Brad Garlinghouse, CEO of Ripple; Melissa Guzy, co-founder and managing partner of Arbor Ventures; and Michael Shaulov, CEO of Fireblocks; among others.

Currently home to 60 per cent of all FinTech companies based in the GCC, Dubai and DIFC is being recognised as a global centre for innovation, with its unique ecosystem and comprehensive approach to business, driving not only the future of finance but increasingly the future economy. As per MAGNITT, FinTech start-ups in MENA recorded a 183 per cent year-over-year growth in funding in 2021.

Highlighting the impact of the growing FinTech sector in the region, Mohammad Alblooshi, Head of DIFC Innovation Hub and FinTech Hive said: “The demand for FinTech services has grown significantly in the last few years, powered by digital technologies and innovation across sectors. In recent years, DIFC has successfully cemented its position as the finance and innovation hub in the MEASA region by offering the most comprehensive FinTech and venture capital environments. In line with its vision to drive the future of finance, DIFC has created lucrative opportunities for start-ups, global players, and unicorns to set up base in the Emirate.

“I’m confident that the Dubai FinTech Summit, organised by DIFC, will soon become the premier platform allowing us to capture the industry’s attention and fulfil our vision of making Dubai a new home for the future of FinTech and finance,” he said.

Related Topics:DFS Dialogue Dubai Fintech Madinat Jumeirah summit

Staff Reporter

Companies

Dubai warns engineering firms over costly villa designs

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9 mins ago

August 26, 2025

Michael Gomes

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Dubai Municipality has issued warnings to several engineering consultancy offices after finding that they exaggerated structural designs for citizens’ villas.

According to officials, these inflated designs went against the Dubai Building Code and led to unnecessary construction costs for property owners, without any real engineering need.

The move is part of the Municipality’s efforts to regulate Dubai’s construction sector and protect residents from extra financial burdens. Consultancy offices across the emirate had already been reminded through circulars to strictly follow approved engineering standards.

Eng. Maryam Al Muhairi, CEO of the Buildings Regulation and Permits Agency, said:

“Compliance with the Dubai Building Code is not only a legal requirement but also a professional and ethical responsibility. The goal is to ensure safe, high-quality construction without forcing citizens to pay more than necessary.”

She added that Dubai Municipality will continue to monitor consultancy offices and contractors to prevent excessive use of building materials, including steel, and ensure construction remains efficient, safe, and cost-effective.

Repeat offenders could face disciplinary measures, including poor annual evaluations or even suspension. Earlier this year, two consultancy offices were banned from licensing new projects for six months due to violations.

By cracking down on such practices, Dubai Municipality says it aims to strengthen the emirate’s construction sector, cut waste, and support sustainable urban growth.

Education

Parents, students benefit as RTA upgrades 10 school zones across Dubai

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17 mins ago

August 26, 2025

Michael Gomes

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Dubai’s Roads and Transport Authority (RTA) has completed a series of traffic improvements in 10 busy school zones across the city, making life easier for parents, students, and staff.

The works, carried out over the summer break, covered areas such as Al Warqa 1, 3 and 4, Al Safa 1, Al Barsha 1, Al Garhoud, Al Mizhar 1 and 4, Al Qusais and Al Barsha South, benefiting 27 schools in total.

What changed?

Wider roads and smoother traffic flow
New entrances and exits to ease congestion
More parking for parents and staff (up to 90% more in some places)
Safer pedestrian features, including signals and traffic-calming measures

The RTA says some zones have already seen traffic flow improve by up to 40 per cent.

Work is still underway in other school areas like Umm Al Sheif, Al Warqa, and Al Barsha. The project is being carried out in coordination with Dubai Police to ensure safety for students and families.

Parents and school bus drivers are also urged to follow safety rules, use designated drop-off zones, and stay alert around schools.

Crime

UAE: Social media users referred to prosecution for breaking content rules

Published

28 mins ago

August 26, 2025

Michael Gomes

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The National Media Office (NMO) has referred several social media users to the Federal Public Prosecution for posting content that violates UAE media laws.

Officials said a special monitoring team works 24/7 to detect violations, alert users about their mistakes, and give them a chance to correct them. Those who fail to comply face legal action.

The NMO explained that these steps are taken to:

Keep social media safe and respectful
Prevent the spread of harmful or misleading content
Protect community values and ethics

In March, the NMO had already reminded users to follow the UAE’s principles of respect, tolerance, and coexistence when posting online. It warned that anyone breaking these rules will be held accountable under UAE law.